Felix Salmon, the popular Reuters blogger (and PR Daily Awards judge), sent this tweet on Wednesday morning:
No need to click Salmon’s link. The answer is $300 million.
first reported that computer software/hardware giant Oracle plans to purchase Vitrue for $300 million—ostensibly as a way to enter the social media marketing business.
(A press release
confirms the purchase, but doesn’t give a dollar amount.)
Vitrue positions itself as a friend to brands when trying to gain more friends in the social media sphere. The company helps brands manage their Facebook, Twitter, YouTube and Pinterest accounts.
According to the press release:
The combination is expected to help organizations develop more meaningful customer engagements with consistent brand experiences, improve their return on investment across all channels and media, and enhance customer service through real-time responsiveness and high touch relationships.
Vitrue CEO Reggie Bradford, who founded the company in 2006, is expected to stay on.