Klout has confirmed the Lithium Technologies acquisition
Klout has been acquired by social marketing company Lithium Technologies. The acquisition has been rumored since last month. The terms of the deal was undisclosed, but it is rumored to be worth around $200 million.
“I want you to know that our mission has not changed ? Lithium shares our passion for empowering every person to understand and maximize their impact online,” said Klout co-founder Joe Fernandez in a blog post. “Klout will continue helping people be great online. You will still be able to get insights about your social media performance, find new content to share, and be rewarded with Perks on both Klout.com and our mobile app.”
Klout raised around $40 million in total VC funding from investors like Mayfield Fund, ff Venture Capital, Lucid Ventures, Zelkova Ventures, Kleiner Perkins, Institutional Venture Partners, Greycroft Partners, Draper Nexus, and Microsoft.
What does Klout do? Klout measures an influence that a user has based on the ability to drive action on the Internet. Anyone can connect their social network accounts and receive a score based on a scale of 1-100. There are certain perks that can be received for having a higher score like access to luxury airport lounges and discounts on products.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry