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.

Don’t Miss: SPIN ZONE: Facebook Starts ORWELLIAN Campaign for Investors.

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.”

Facebook is a past investor in Wildfire, whose clients have included Target (NYSE:TGT), Unilever (NYSE:UN), Virgin Atlantic, Universal Studios (NASDAQ:CMCSA), and Sony (NYSE:SNE).

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.

Investing Insights: Here’s Why Mark Zuckerberg MUST Support Facebook’s Stock at $28.