Salesforce.com, Inc. (Public, NYSE:CRM) has bought social media monitoring company Radian6 for $276 million in cash and $50 million in stock. The company will also be given $10 million in stock and $4 million in cash to Radian6’s founders subject to vesting conditions over the next 2 years. Radian6’s software helps clients like Dell, GE, Kodak, etc. monitor hundreds of millions of social media conversations. Salesforce plans on enhancing their software products like Sales Cloud, Chatter, etc.
Salesforce.com CEO and chairman Marc Benioff stated;
With Radian6, salesforce.com is gaining the technology and market leader in social media monitoring. We see this as a huge opportunity. Not only will this acquisition accelerate our growth, it will extend the value of all of our offerings.
Radian6 was founded in 2006 and helps monitor social media conversations on Facebook, Twitter, YouTube and blogs.