This Acquisition Will Change the Way You Manage Your Social Media
Sprout Social, Inc. has made an announcement regarding its acquisition of Tagger Media, Inc., a move that solidifies its dominant position within the social media software sector. By strategically incorporating Tagger Media, Sprout Social has not only enhanced its social media platform with advanced workflow, reporting, and intelligence capabilities but has also ventured into the influencer marketing arena. This calculated acquisition is aimed at equipping businesses with the necessary tools to execute a comprehensive and scalable social strategy.
The paradigm of influencer marketing has transformed brands’ interactions and engagement with their intended audiences in recent times. Acknowledging this shift, Sprout Social has been responsive to the growing demand from its customers to break down functional barriers in their core social media strategies. The integration of Tagger’s influencer marketing software into its existing suite of offerings empowers Sprout Social to furnish customers with cutting-edge social insights, enabling informed business strategies and precise calculation of the full return on investment (ROI) from extensive social endeavors.
Tagger Media, established in 2015, has rapidly established itself as a dominant force in influencer marketing and social intelligence. With its comprehensive Software as a Service (SaaS) offering, Tagger empowers major corporations and agencies worldwide to discover influencers, orchestrate campaigns, analyze trends, and gauge ROI. Its excellence has been recognized with awards such as the Best Influencer Marketing Platform by the Global Influencer Marketing Awards, along with being lauded as the Summer 2023 Leader, Momentum Leader, and High Performer in the Enterprise category by G2.
The convergence of Sprout Social and Tagger Media serves a common vision of crafting effective and user-centric software solutions. This merger aligns with their mutual ambition to shape the swiftly evolving influencer marketing landscape. While Sprout Social is committed to delivering comprehensive social media management and analytics software, Tagger’s specialization in harnessing data and analytics to drive creator and influencer marketing strategies complements this mission seamlessly.
On August 2, 2023, Sprout Social successfully completed the acquisition of Tagger Media for a cash sum of $140 million. The financial transaction was facilitated through a combination of available cash resources and a newly established revolving credit line. By 2024, Sprout Social anticipates that this strategic investment will yield accelerated Annual Recurring Revenue (ARR) and Annual Contract Value (ACV) growth rates, surpassing its targets for gross and operating margin expansion. This acquisition propels Sprout Social toward its ambitious goal of achieving $1 billion in subscription revenue.
At the forefront of utilizing data and analytics to steer creator and influencer marketing strategies, Tagger Media stands as an innovation leader. Tagger’s pioneering SaaS solution and unparalleled expertise have garnered trust from multinational corporations globally. By forging API partnerships with major social platforms, Tagger seamlessly links millions of brand and influencer profiles with billions of social data points, offering the most robust social intelligence and actionable insights in the industry. Its comprehensive analytics, feature-rich platform, and strategic integrations facilitate effective campaign workflows.
Over 30,000 brands are currently leveraging Sprout Social’s social media management and analytics tools to make impactful and informed decisions for their businesses. Renowned for its user-friendly interface, Sprout Social equips customers with actionable social data, streamlining social media management and delivering tangible outcomes. Offering a comprehensive suite of solutions, ranging from publishing and engagement tools to customer support, advocacy, and AI-driven analytics, Sprout Social has garnered accolades for its innovative features and compatibility across various popular social media and digital platforms.
The acquisition of Tagger Media by Sprout Social signifies a momentous chapter in the trajectory of both entities. This partnership is poised to revolutionize the influencer marketing sector, presenting companies with an integrated solution for their social media management needs. With a shared objective of reshaping creator and influencer marketing, Sprout Social and Tagger Media provide companies with the essential data and analytics required to excel in the digital era.
First reported on Sprout Social
Frequently Asked Questions
1. What is the recent announcement by Sprout Social, Inc.?
Sprout Social, Inc. has announced its acquisition of Tagger Media, Inc., a strategic move that solidifies its dominant position in the social media software sector.
2. How does this acquisition enhance Sprout Social’s capabilities?
Through the incorporation of Tagger Media, Sprout Social enhances its social media platform with advanced workflow, reporting, and intelligence capabilities, while also entering the influencer marketing domain.
3. What is the objective of this calculated acquisition?
The acquisition aims to equip businesses with the tools needed to execute comprehensive and scalable social strategies, catering to the evolving demands of the digital landscape.
4. How has influencer marketing transformed brand interactions?
Influencer marketing has revolutionized how brands connect and engage with their target audiences, prompting Sprout Social to respond to customers’ demands by breaking functional barriers in their social media strategies.
5. How does Tagger’s software integration benefit Sprout Social’s customers?
By integrating Tagger’s influencer marketing software, Sprout Social provides customers with cutting-edge social insights, empowering informed business strategies and precise ROI calculations for extensive social endeavors.
6. What accolades has Tagger Media received?
Tagger Media, established in 2015, has gained recognition as a dominant force in influencer marketing and social intelligence. It has received awards such as Best Influencer Marketing Platform from the Global Influencer Marketing Awards.
7. How does the merger of Sprout Social and Tagger Media align?
The merger reflects a shared vision of crafting effective and user-centric software solutions to shape the evolving influencer marketing landscape and drive creator and influencer marketing strategies.
8. What financial details surround the acquisition?
The acquisition of Tagger Media by Sprout Social was completed on August 2, 2023, for a cash sum of $140 million, funded through available cash resources and a newly established revolving credit line.
9. What are the anticipated outcomes of this acquisition?
By 2024, Sprout Social expects accelerated Annual Recurring Revenue (ARR) and Annual Contract Value (ACV) growth rates, surpassing targets for gross and operating margin expansion, propelling them toward a $1 billion subscription revenue goal.
10. How does Tagger Media’s innovation stand out?
Tagger Media leads in utilizing data and analytics to steer creator and influencer marketing strategies. Its innovative SaaS solution and partnerships with major social platforms result in comprehensive social intelligence and actionable insights.
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