Lithium Technologies Announces $200M Acquisition of Klout
A social management software company by the name of Lithium Technologies recently released statement recently announcing it recent acquisition of Klout. According to the released statement, the acquisition will create, “One of the biggest data footprints of consumer attitudes, preferences, and activities on digital channels.”
Lithium claimed the combined companies will now have access to over 500 million consumers across 10,000 specific areas and over more than 300 branded communities, The financial details behind the acquisitions were not disclosed.
“With Klout, Lithium fully delivers on its vision of building a trusted online connection between consumers and the brands they care about,” said Lithium CEO Rob Tarkoff. Brands like AT&T, Best Buy and Skype use Lithium’s technology to manage their social networks.
Klouts recent business focus falls right under the same type of thought with Lithium overarching plans as a social customer experience management software provider. To simple put it, Lithium assists business harness the power behind social media to interact with their customers and boost sales and version, while increase brand support, and so on through the use of social marketing, social commerce, social support and crowdsourcing.
Founded in 2001, Lithium has managed to raise over $152 million in total, including a $50 million rounder previously in September led by New Enterprise Associates, The company provides customer social experience for more than 400 brands, including Best Buy. Skype, AT&T, and Sephora, plus more. Lithium has also been readying up for an IPP, though it hasn’t been made clear when that will exactly happen. the money raised previously in September was a “pre-IPO” mezzanine round. But Lithium also said that a $53 million round raised in January 2012 was also a “pre-IPO” round.
All the while, Klout continues to advance, The company has been said to have made a total of $10 million in revenue during 2013 and relaunched its website earlier in the month to put more emphasis on their better feature of sharing and creating original materials that will be published “when people are listening”.