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In a groundbreaking development for the social media management landscape, Sprout Social, a renowned provider of cutting-edge social media management software, has taken a monumental stride by acquiring Tagger Media. The latter, an influential player in the field of influencer marketing and social intelligence platforms, has joined forces with Sprout Social, marking a transformative shift in the industry.
Embracing the Power of Synergy
The acquisition of Tagger Media by Sprout Social has ushered in a new era of innovation and empowerment within the realm of social media software. This strategic move solidifies Sprout Social’s position as the industry’s trailblazer, now equipped with a comprehensive platform that empowers brands to execute holistic social strategies on a grand scale.
A Paradigm Shift in Influencer Marketing
The acquisition couldn’t have come at a more opportune time, considering the evolving dynamics of influencer marketing. Justyn Howard, the visionary CEO and co-founder of Sprout Social, succinctly captures the essence of this transformative collaboration: “Influencer marketing has revolutionized how brands cultivate awareness and forge connections. Our clients increasingly yearn to dismantle the silos in their social media strategies.”
By seamlessly integrating Tagger’s influencer marketing software into Sprout’s suite of solutions, a promising vista opens up to provide the next generation of social insights. This synergy empowers businesses to craft data-driven strategies and comprehensively measure the return on investment for their holistic social endeavors.
Shared Values, Shared Vision
The union between Tagger and Sprout isn’t just about technology; it’s about shared values and an unwavering vision. Both entities share a mission to craft potent and intuitive software solutions, amplifying their collective impact. This collaboration promises to leverage the strengths of both teams to redefine industry standards and elevate the potential of their products.
Tagger Media: A Catalyst for Innovation
Founded in 2015, Tagger Media has consistently fueled innovation within the influencer marketing landscape. Its unified SaaS solution has empowered global brands and agencies to seamlessly discover influencers, plan and manage campaigns, dissect competitor strategies, monitor trends, and gauge ROI. This holistic approach to influencer marketing has proven to yield tangible business outcomes, solidifying Tagger’s reputation as a game-changer.
Basking in Accolades
Tagger Media’s prowess hasn’t gone unnoticed. The Global Influencer Marketing Awards have twice bestowed upon Tagger the title of Best Influencer Marketing Platform, underscoring its industry impact. Furthermore, G2, a leading peer-to-peer review platform, has recognized Tagger as the Summer 2023 Leader, Momentum Leader, and High Performer in the Enterprise category.
Visionaries of the Future
The brains behind Tagger Media, including its founder and president Pete Kennedy, have long envisioned the transformative potential of the creator economy. Their belief in disruptive and innovative software has propelled Tagger’s journey, now poised to be an instrumental part of this rapidly emerging market.
Paving the Way for Growth
Sprout Social’s acquisition of Tagger Media is a financial venture backed by strategic foresight. The cash consideration of $140 million reflects the immense value Tagger brings to the table. The deal, which concluded on August 2, 2023, has been financed through a blend of Sprout Social’s own resources and a freshly established revolving credit facility.
A Glimpse into the Future
Joe Del Preto, the CFO of Sprout Social, radiates confidence in this new collaboration: “Our entry into influencer marketing with Tagger’s exceptional product and team is a move that promises exciting prospects. We anticipate accelerated growth rates, alongside an expansion of our gross and operating margins. Tagger’s integration offers an unprecedented opportunity to drive the adoption of influencer marketing software among our clientele.”
Charting a New Growth Chapter
As Sprout Social aligns its roadmap with Tagger’s expertise, this collaboration becomes a catalyst for their ambitious $1 billion subscription revenue goal. This momentous venture is just the beginning of a new growth chapter, a chapter that promises innovation, empowerment, and remarkable value.
Final Thoughts
The acquisition of Tagger Media by Sprout Social stands as a testament to the power of visionary collaboration. As two industry giants unite, their shared mission of innovation, empowerment, and redefining industry norms becomes a reality. Together, they embark on a journey that will reshape the way brands approach social media strategies, influencer marketing, and holistic growth.