Good for CoTweet – bought by ExactTarget
Well how about that. Good for CoTweet.
CoTweet, the Twitter CRM tool used by several massive brands including Best Buy and Ford, has been acquired by ExactTarget, an email marketing firm.
In a statement, ExactTarget CEO Scott Dorsey said,” By combining the power of ExactTarget and CoTweet, we can provide businesses a complete solution to tie together all formsof interactive communications and drive deeper customer engagement online.”
While perhaps not a widely known name in the social media space, ExactTarget is a major player in email marketing, generating $114 million in revenue for 2009. The company has also raised a massive $140 in venture capital, most recently securing $75 million this past December.
I think this combo actually makes perfect sense. I could also have seen a DemandMedia or Adobe or Yahoo scooping them up. I wonder what other companies are like CoTweet running around…