Oracle Acquires Vitrue For $300 Million
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Oracle Corporation has acquired Vitrue, a company that has built a social marketing platform, for $300 million. The acquisition will allow Oracle to give a more extensive Facebook, Google+, Pinterest, Instagram, Twitter, and YouTube marketing platform for their enterprise clients. Vitrue was founded in May 2006 and raised around $33 million since then. It is rumored that Vitrue was getting close to $100 million in revenues for the year. Several bidders had approached Vitrue, but Oracle beat them all. Vitrue was getting near profitability and it was reported that this would be their first year in profitability. Other recent similar deals that have taken place includes Adobe acquiring Efficient Frontier for $400 million.