Sprout Social acquires Tagger Media – Marketing Tech News

Sprout Social, a supplier of social media administration software program, has acquired Tagger Media, an influencer advertising and marketing and social intelligence platform.

This acquisition will additional set up Sprout because the chief within the social media software program market with a complete platform that empowers manufacturers to execute a holistic social technique at scale.

Justyn Howard, Sprout Social’s CEO and co-founder, stated: “As influencer advertising and marketing has modified the best way manufacturers construct consciousness and connection, our prospects are more and more demanding to interrupt the workflow silos between core social media methods.

“By bringing Tagger’s influencer marketing software into Sprout’s suite of solutions, we have the opportunity to deliver the next generation of social insights to our customers to fuel business strategy and measure the full ROI of holistic social investments. Tagger and Sprout have a shared mission for building powerful and intuitive software and we’re excited to bring our industry-leading products and teams together.”

Tagger Media was based in 2015 to make influencer advertising and marketing more practical and accessible for all manufacturers. As we speak, Tagger’s unified SaaS resolution permits the world’s largest manufacturers and businesses to find influencers, plan and handle campaigns, analyse competitor methods, report on tendencies and measure ROI – delivering tangible enterprise impression. Tagger has twice been acknowledged because the Greatest Influencer Marketing Platform by the World Influencer Marketing Awards and was not too long ago acknowledged by G2 because the Summer season 2023 Chief, Summer season 2023 Momentum Chief and Summer season 2023 Excessive Performer within the Enterprise.

Pete Kennedy, Tagger’s founder and president, stated: “We started Tagger because we saw extraordinary potential in the creator economy and knew there was an opportunity to build disruptive and innovative software for brands. We’re delighted to execute together on a shared vision to define this rapidly emerging market.”

“We believe Sprout’s incredible brand recognition, well-refined go-to-market strategy and industry-leading software will enable us to further accelerate the opportunities for our employees and the value we deliver to our customers,” stated Dave Dickman, Tagger’s CEO. “We’re motivated to establish ourselves as the category winner in influencer marketing.”

Sprout Social has acquired Tagger Media for money consideration of $140 million in a transaction that closed on August 2, 2023. The acquisition was funded with a mixture of money from Sprout Social’s stability sheet and Sprout’s newly established revolving credit score facility.

Joe Del Preto, Sprout Social CFO, stated: “We’re excited to broaden our market footprint into influencer advertising and marketing with the addition of an distinctive product and an distinctive workforce.

“We expect Tagger will accelerate our ARR and ACV growth rates, and will deliver upside to our gross and operating margin expansion goals beginning in 2024. We see a strong opportunity to further accelerate Tagger’s growth and drive high adoption of influencer marketing software in our customer base. As we align our product roadmaps and platform strategy, Tagger represents a new and differentiated growth opportunity to complement the beginning of our next great growth chapter towards our target of $1 billion in subscription revenue.”

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Tags: influencer marketing, Social Media, Sprout Social, Tagger Media