New York, NY (PRWEB) May 12, 2011
Buddy Media, the Facebook management system of choice for eight out of the ten top global advertisers, today announced it has acquired Spinback, a New York-based company that provides comprehensive social commerce and analytics tools.
Spinback’s social commerce tools include EasyShare™, a social plugin that allows consumers to easily share products and purchases via Facebook, Twitter and email; and EasyTrack™, an analytics dashboard that allows companies to measure social sharing and the resulting traffic, conversions and sales.
Specifically, the Spinback technology solution helps marketers:
- Power social sharing integration for Facebook, Twitter, E-mail and blogs
- Measure sales from Facebook, Twitter and E-mail
- Identify the most important influencers on social networks
- Discover the most shared and recommended products
- Make decisions on how to allocate marketing spend based on surfaced commerce analytics data
While Spinback primarily serves retailers, Buddy Media plans to expand the offering to serve its rapidly growing client list of Fortune 100 marketers and world-class agencies.
Since launching in October 2010, Spinback has built a client base of more than 20 leading retailers. Companies using Spinback’s tools have seen on average $2.10 in incremental revenue from each Facebook Wall Post, and a 10.9% conversion rate for Facebook shares that lead to purchases.
In its April 2011 report “Will Facebook Ever Drive eCommerce?,” Forrester Research recognized Spinback specifically as one of the most exciting ways for large retailers to drive immediate value through social marketing, and stated that the company “uses Facebook data to extract trends, identify influencers, monitor competition, and glean customer insights.” Moreover, Jason Roussos, President and COO of online retail company Living Direct, states, "Spinback has allowed us turn our social media strategy into more than just ‘clicks,’ ‘follows’ and ‘Tweets.’ We are now getting actionable data showing us demographics, product trends and, most importantly, revenue tied to our activities.”
Spinback’s entire team will join Buddy Media full time, working out of the company’s U.S. headquarters in New York City.
“Tens of millions of websites have added sharing buttons,” said Michael Lazerow, founder and CEO of Buddy Media. “Very few of them, however, can actually tell you how many sales were driven by these buttons. With this acquisition, Buddy Media can now answer the question ‘what is the ROI of social media?’ better than anyone else in the market in a holistic way, both on Facebook and off, and on Twitter and email.”
“Spinback is very excited to join the Buddy Media team,” said Andrew Ferenci co-Founder and CEO of Spinback. “Buddy Media’s un-matched Facebook management platform, combined with Spinback’s social commerce technology will provide the most powerful social business solution on the market for brands and agencies.”
Ferenci and Lazerow will discuss the acquisition during an exclusive presentation at the Mashable Connect conference tomorrow in Orlando, FL.
About Buddy Media
The Buddy Media Platform is the Facebook management system of choice for eight out of the ten top global advertisers. With its scalable, secure architecture and straightforward administrative tools, it is the only solution that allows brands to launch, maintain and measure their Facebook presence in any country and in any language. Buddy Media shares four investors with Facebook and was one of the first companies selected by Facebook as a preferred developer partner. The company is backed by WPP, Softbank Capital, Institutional Venture Partners, GGVC, Greycroft Partners, Facebook investor Ron Conway, Facebook board member Peter Thiel, Zynga founder and CEO Mark Pincus, Roger Ehrenberg, and others. For more information, visit http://www.buddymedia.com.
Spinback is a social plugin and analytics dashboard that helps retailers quickly launch social features and measure its effectiveness. Spinback's platform is comprised of EasyShare™, a widget that allows consumers to easily share products and purchases to social networks, and EasyTrack™, an analytics dashboard that allows retailers to measure how products are shared across the social web and track those shares all the way back to a transaction at checkout. The company’s team was founded by three friends from the University of Wisconsin, Andrew Ferenci, Corey Capasso and Dan Reich. Advisors and employees include lead technologists from companies including Google, eBay, GSI Commerce, Orbitz, ESPN, Salesforce.com, Etsy, Half.com, and OnForce.com. For more information, visit http://www.spinback.com.
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