In a statement, Hootsuite said that the acquisition of AdEspresso – a global Facebook ad partner — will allow the company to sit at the nexus of $500 million in annualized social spend. The social media management platform has expressed an interest in becoming a go-to social marketing solution for businesses. AdEspresso by Hootsuite will continue as a self-service ads management product for businesses.
“Social advertising has become a vital aspect of marketing; companies are looking for ways to reach an active, engaged audience while getting more mileage from content and advertising spend,” said Ryan Holmes, CEO of Hootsuite. “With AdEspresso, we’re bringing our users a simple, powerful, battle-tested solution that delivers measurable ROI.”
At the same time that it announced the acquisition, the company also announced the launch of Hootsuite Ads, which will provide organizations with enterprise-grade features, such as testing hundreds of Facebook and Instagram ads in a shorter time and connecting an organization’s CRM with its Facebook ads account.
“Millions of organizations use Facebook advertising to drive the outcomes that matter most to them,” said Blake Chandlee, VP of Marketing Partnerships at Facebook. “Hootsuite’s acquisition of AdEspresso, a fast-growing Facebook Marketing Partner, shows that there’s a huge opportunity in building customized services on our open APIs to help each business meet their unique goals.”