Google buys PostRank for social analytics
Waterloo, Ontario-based PostRank said in a company blog post that its employees will relocate to Google's Mountain View, Calif. headquarters. The four-year-old company measures social media engagement by analyzing consumer interactions with content on various social networks, including Facebook and Twitter.
PostRank referred requests seeking comment to Google, which declined to comment on personnel matters.
“We're always looking for new ways to measure and analyze data, and as social analytics become increasingly important for online businesses, we're excited to work with the PostRank team to make this data more actionable and accountable,” said a Google spokesperson, via email. “They have developed an innovative approach to measuring Web engagement, and we think they can help us improve our products for users and advertisers.”
Jake Wengroff, global director of social media strategy and research at Frost & Sullivan, said the acquisition will give Google another metric to measure advertising performance, particularly for social ROI.
“Advertisers need to measure this [social media] engagement, and need to measure this value, because it's proving costly and advertisers are losing patience. They need as much data and as much analytics as possible — so this can only help," he said. "Google doesn't want to be a one-trick pony, and they want to provide the deeper marketing solutions for their advertisers."