Buddy Media acquires social analytics company Spinback
Buddy Media CEO and founder Michael Lazerow said the acquisition will add ROI measurement to Buddy Media's Facebook management platform and give its clients “closed-loop conversion tracking.”
“We believe the technology we acquired today provides ROI tracking not only on websites, Twitter and email, but also everything we do on Facebook: wall posts, tabs and in-wall sapplets,” he said. “So this is a horizontal acquisition, and we're going to integrate it into all that we do at Buddy Media.”
Lazerow added that Buddy Media had planned to develop such capabilities in-house but “it's a product we didn't think could wait for us to build it out.”
Buddy Media will retain all Spinback employees who work its New York headquarters. Spinback CEO and cofounder Andrew Ferenci will lead Buddy Media's product team as director of product development, reporting to Patrick Stokes, chief product officer at Buddy Media. Former Spinback COO and cofounder Dan Reich will serve as director of account management and report to Buddy Media chief client officer Michael Jaindl.
Clients will have the option of working with Buddy Media and Spinback in combination or exclusively. Spinback clients include golf equipment retailer 3balls.com and appliance and furniture store Living Direct.
Financial terms of the deal, which Lazerow said closed May 11, were not disclosed.