Social sharing company Clearspring has acquired XGraph, a data-science firm that could strengthen Clearspring's position in the marketing analytics field.
By combining Clearspring's social reach with XGraph's capacity for data mining, Clearspring hopes to offer clients deeper, richer data on who their consumers are, what they are doing online and who their friends are. As social and retail sites increasingly intersect, advertisers are placing a growing premium on consumer information they can use to refine their targeting.
The move comes just one month after Clearspring installed former Yahoo Right Media boss Ramsey McGrory as CEO.
“Clearspring is at the epicenter of two major shifts online - the web becoming social and personal, and advertising becoming data-driven and accountable," said McGrory in a press release. "The common thread in both changes is data. To compete in this new world, companies will not only need the ability to access and process big data, but also have the ability to activate that data to create value for consumers, publishers and advertisers."
Clearspring is best known for its "Add This" social sharing tool, which allows users to share content with friends across 300-plus sites and social networks. Prior to the acquisition, the company comprised about 70 people between its Mclean, V.A. and New York offices. XGraph, which will continue to operate under its own name, brings 15 people to the combined company.
Clearspring did not disclose what it paid for XGraph, only that it was a mix of cash and stock. The acquisition comes just six months after Clearspring closed a $20 million round of funding. Last year, XGraph raised $3.75 million.
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Douglas Quenqua is a journalist based in Brooklyn, NY who writes about culture and technology. His work has appeared in The New York Times, Wired, The New York Observer, and Fortune.
March 19, 2014