Dive summary:
- Hootsuite, a social media management firm, secured $165 million in a recent round of Series B funding.
- The funding is a representation of the confidence investors hold in Hootsuite's social media marketing; funding came from Insight Venture Partners, an investor in Twitter and Tumblr, and Accel Partners, an early investor in Facebook.
- Hootsuite is also looking to start a revenue stream from its selection as a Twitter Ads API partner; one of only five companies chosen, Hootsuite is able to build social ad products on top of Twitter's API.
From the article:
"Mr. Holmes said HootSuite is slowly releasing its new Twitter ad-buying tool to enterprise clients, but it's not charging them yet. It's also working with Facebook to get approved as one of its many Ads API partners. To be determined is whether it charges a licensing fee, arranges to take a certain percentage from Facebook or Twitter for buys that exceed a certain amount, or charges a percentage on top of the ad units that marketers buy using its software."