GoDaddy set to acquire Main Street Hub for $125 million
GoDaddy, the web-hosting platform aimed at helping small businesses grow and manage their online presence, is buying social media marketing platform Main Street Hub. The deal’s expected to close in the later of the second quarter, and the price tag is set at $125 million plus an additional sum of up-to $50 million in future earn outs.
GoDaddy’s share price has appreciated by 50% over the last 12 months
SOURCE: Yahoo Finance
Main Street, like the company that bought it, is aimed at boosting small businesses’ visibility online. For the monthly fee, the Main Street deals with every aspect of a company’s web presence, including “marketing automation, CRM, social media, reputation management and mobile, web and email marketing.” But the company’s specialty is social media – and that’s becoming more and more relevant in the internet age.
GoDaddy has 17 million customers, many of whom could benefit from the acquisition of Main Street Hub. Small businesses from car dealerships to plumbers to accountants use social media to engage with their customers, and Main Street Hub is an excellent way for businesses that don’t have the time to create and run their own Facebook, Twitter and Linkedin strategies to not get left behind.
GoDaddy will start offering social media content for small businesses once the deal is complete, and Market Street Hub has integrated with its purchaser. The smaller company’s CEO and co-founders will also join GoDaddy’s board, adding valuable insight into the world of internet marketing.
Dominion holds GoDaddy in its Global Trends Ecommerce Fund.
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