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Hootsuite to acquire Talkwalker for social media analytics

Apr 8, 2024
An illustration of young people checking their phone and their "likes" on social media

Illustration: Aïda Amer/Axios

Hootsuite has agreed to acquire Talkwalker to expand its social media monitoring and analytics tools.

Why it matters: The consolidation comes as brands juggle a growing number of platforms for digital marketing and seek better returns on investment.

Zoom in: Hootsuite and Talkwalker have partnered since 2015, making Talkwalker's tools available in Hootsuite's platform for joint customers.

  • Hootsuite CEO Irina Novoselsky tells Axios that Talkwalker's analytics tools have become increasingly crucial for brands as they prioritize performance-based marketing.
  • Luxembourg-based Talkwalker was founded in 2009 and acquired by private equity firm Marlin Equity Partners in 2018. Vancouver-based Hootsuite was founded in 2008 and is VC-backed.
  • Hootsuite declined to disclose deal terms. But Marlin Equity Partners is maintaining a stake in Talkwalker, implying it was a mix of cash and stock.
  • Goldman Sachs served as the financial adviser to Talkwalker.

By the numbers: Hootsuite has over 200,000 paid customers, including more than 6,000 enterprise customers.

  • Talkwalker has over 2,500 clients, including more than 500 enterprise customers. The overlap is about 250 clients.
  • Talkwalker's roughly 400 employees are joining Hootsuite's team of about 1,000 employees.

Catch up quick: Novoselsky started as CEO last January. Prior, she was CEO of CareerBuilder and earlier in her career worked at Morgan Stanley and Apollo Global Management.

  • Hootsuite went through a series of layoffs prior to Novoselsky joining. The company cut 30% of its staff, about 400 people, in August 2022. It laid off about 50 people in late 2022 and another 70 people in January 2023.
  • Hootsuite's most recent equity funding round was $60 million in 2014 at a valuation between $700 million and $750 million, per Bloomberg. It received $50 million in debt financing from CIBC Innovation Banking in 2018.
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