Meltwater Acquires JitterJam to Lead Exploding Social CRM Market
SAN FRANCISCO and BEDFORD, N.H., March 22, 2011 /PRNewswire/ — The Meltwater Group, one of the world’s leading social media and news monitoring companies, today announced the acquisition of JitterJamÃ‚®, a leader in Social CRM software. Together the companies will provide marketing, communications and advertising professionals with the most comprehensive set of tools for tracking and engaging with customers on social channels to transform conversations into lasting and trusted relationships. Meltwater purchased JitterJam for $6 million, and all of JitterJam’s employees will join Meltwater.
Both companies have achieved market leadership by delivering distinct products and solutions around media monitoring and marketing. Meltwater has grown to a $100 million a year company by delivering engaging news and social media monitoring and search engine marketing solutions. The company has 55 offices around the world serving more than 18,000 customers. JitterJam combines email, social media and mobile engagement with an intelligent contact database to provide businesses with an integrated consumer engagement and marketing platform. The JitterJam platform is built for consumer-facing companies who are looking to generate ROI from social, mobile and email engagement and marketing. The JitterJam platform will be integrated over time with the Meltwater Buzz product, creating the most comprehensive and engaging Social CRM platform on the market today.
“Meltwater was bootstrapped with $15,000 ten years ago and has now grown to a $100 million leader without external funding in the online media monitoring space. Also, we have proven we have the expertise to achieve rapid success in emerging markets,” said Jorn Lyseggen, chief executive officer and founder of Meltwater Group. “The Social CRM space is clearly experiencing fast growth and within three years we aim to generate $100 million a year in Social CRM solutions alone. The JitterJam technology and talent will help us achieve this goal.”
Social CRM has evolved from a curiosity to an emerging business necessity. In a recent press release, Gartner, Inc. forecasts that “by 2013, spending on social software to support sales, marketing and customer service processes will exceed $1 billion worldwide.” The firm also predicts that “during the next two years, 30 percent of leading companies will extend the goals of their online community activities to the design of enhanced service processes, such as Social CRM.”
JitterJam’s unique blend of social analytics, CRM and digital marketing capabilities make it a comprehensive social marketing tool for businesses, brands and agencies. By using JitterJam, businesses can discover relevant conversations happening on the real-time web and engage to convert conversations into customers.
“We have been tremendously impressed with Meltwater’s rapid growth in the social and marketing space,” said Ric Pratte, co-founder, president and chief executive officer of JitterJam. “Meltwater’s expertise, highly impressive customer base and exceptional sales organization will help us bring the integrated JitterJam platform to a primed worldwide audience. We’re thrilled to be a part of Meltwater.”
In addition to JitterJam, Meltwater acquired BuzzGain last year and intends to acquire more businesses and technologies to help the company further expand its product suite.
JitterJam is a web-based Social CRM system that helps businesses and brands Turn Conversations into Customers(TM). JitterJam combines social media monitoring, an intelligent contact database and a multi-channel digital marketing platform into a single, integrated system. Consumer-facing businesses, brands, agencies and consultants are using JitterJam to capture relevant conversations on the social web and turn them into lasting, trusted customer relationships with new opportunities for revenue growth.
Founded in 2008, JitterJam is headquartered in Bedford, NH. For more information, visit http://www.jitterjam.com.
About The Meltwater Group
The Meltwater Group is a privately held software company founded in Norway in 2001, serving more than 18,000 clients through 55 offices located across North America, South America, Europe, Middle East, Africa, Asia and Australia. Meltwater is committed to challenging existing business models by introducing disruptive technologies.? The Meltwater Group delivers B2B solutions based on search engine technology, cloud computing and talent management software. For more information, please visit http://www.meltwater.com.
SOURCE Meltwater Group