Global enterprise software company Salesforce.com is planning to acquire Facebook marketing behemoth Buddy Media Inc. for $800 million, Forbes reported.
The plan comes at a time of growing skepticism toward Facebook ad space. General Motors announced that it was pulling its ads from Facebook the same week the multi-billion-dollar company debuted on Nasdaq.
Founded four years ago by Michael Lazerow, Buddy Media is an organization that helps corporations including ESPN, Ford, and Hanes manage their brand presence on Facebook. Recently it has also branched out to other social media platforms, including Twitter, LinkedIn, and Google+.
The company has raised $90 million in venture funding.
Earlier this month, Buddy Media itself acquired social commerce and analytics firm Spinback.
The Epoch Times publishes in 35 countries and in 19 languages. Subscribe to our e-newsletter.
