Popular social media marketing solution Hootsuite has acquired advertising technology startup AdEspresso.
While terms of the deal were not disclosed, AdEspresso was valued at $20 million back in May 2016, following a $1.4 million investment round.
The acquisition will provide Hootsuite an opportunity to expand its existing paid advertising operations. The company has also revealed it is launching Hootsuite Ads, a self-service ads management product that will enable enterprises to create and manage (test and optimize) social advertising campaigns on Facebook and Instagram faster and more efficiently.
, providing organizations the ability to effectively engage with customers across paid, earned, and owned social media.
"Social advertising has become a vital aspect of marketing; companies are looking for ways to reach an active, engaged audience while getting more mileage from content and advertising spend. With AdEspresso, we're bringing our users a simple, powerful, battle-tested solution that delivers measurable ROI." said Ryan Holmes, CEO of Hootsuite.
Digital marketing executive with proven experience in all aspects of search engine optimization (SEO), performance-based advertising, consumer-generated/social media, email marketing, lead generation, Web design, usability, and analytics. - 20-year Internet marketing veteran, currently serving as the Digital Marketing Campaign Manager at Antenna Group (formerly Chicago Digital). - Former Editor-In-Chief of Website Magazine, and a regular speaker on Web technology digital marketing strategy - Author of several books on digital marketing Including Web 360: The Fundamentals of Web Success; Affiliate 360: The Fundamentals of Performance Marketing; Domains 360: The Fundamentals of Buying & Selling Domain Names, and SEO 360: The Fundamentals of Search Engine Optimization.