Social Pro HootSuite Eyes $500M Valuation
Things are moving pretty fast for social media management platform HootSuite. Just the other month, it raised $20 million in a second investment round, which valued the company at $200 million. Now, the startup is reportedly in the process of raising $50 million at a $500 million valuation. “And what’s making this even more interesting are the investors that are being mentioned in connection with the round: HootSuite is looking to have discussions with Twitter, Facebook, LinkedIn and Google -- a sign of how the surge in social media investments is also giving a lift to companies that are figuring out ways to harness that for third parties,” TechCrunch writes.
According to one TechCrunch source, Facebook, Google, LinkedIn and Twitter already have a “great relationship” with HootSuite, and that the company was looking to build a deal that would give them all “upside in Hootsuite’s success.” Meanwhile, regarding the $500 million valuation, HootSuite CEO Ryan Holmes said: “At today’s run rate this would be a very fair valuation for investors, but we have yet to determine if we will bring in additional partners. That said, we have had quite a few inquiries.”