Facebook: Those Who Can’t Do, BUY!
That social media marketing management is a hot industry is clear from the fact that Oracle (NASDAQ:ORCL) paid $300 million to buy Vitrue and salesforce.com (NYSE:CRM) bought Buddy Media for about $700 million in the last few weeks. Saleforce.com also paid $330 million in cash and shares to acquire social media monitor Radian6 earlier. The buzz now, according to Business Insider, is that Facebook (NASDAQ:FB) is preparing to acquire Wildfire Interactive, another social media marketing tools provider.
Wildfire helps businesses market themselves on social media platforms such as Facebook, LinkedIn (NYSE:LNKD), and Twitter. On its website, the company calls itself “an easy-to-use yet powerful tool to grow, engage, and monetize your audience on Facebook, Twitter, YouTube, and LinkedIn.”
According to Business Insider, the social network could be looking to spend close to $250 million. Google (NASDAQ:GOOG) could possibly be a competing bidder, since it was also said to be in running to buy Buddy Media.
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