Social media marketing start-up Stackla banks $4 million

Social media marketing start-up Stackla banks $4 million. Cole Bennetts Yolanda Redrup Social media marketing start-up Stackla has closed its second capital raise in 2016, this time banking $4 million, from an existing investor. In February the business, which lets big brands harness word-of-mouth advertising by putting customer-generated social media content at the heart of their marketing, received a $6.1 million capital injection in February from Bailador. "The reason the opportunity has opened up is because we've seen some consolidation in our vertical in 2016, with four different transactions taking place with our competitors," he said. "Consequently our technology has become more sought after." Turning down buyout bids Mr Mahoney said he had also received offers to buy Stackla in the first half of the year, but had turned them down. "It wasn't the right time for us or a path that we'd pre-meditated." So we're seeing opportunities in that part of Asia," Mr Mahoney said. "We also see opportunities in mainland Europe. Stackla already has a deal with Swedish digital content management business Sitecore.

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Stackla co-founder Damien Mahoney says the business is looking to strike more partnerships after raising funds from Bailador.
Stackla co-founder Damien Mahoney says the business is looking to strike more partnerships after raising funds from Bailador. Cole Bennetts
Yolanda Redrup
Yolanda Redrup

Social media marketing start-up Stackla has closed its second capital raise in 2016, this time banking $4 million, from an existing investor.

In February the business, which lets big brands harness word-of-mouth advertising by putting customer-generated social media content at the heart of their marketing, received a $6.1 million capital injection in February from Bailador.

Stackla co-founder Damian Mahoney said the new funds would let the business invest in its development team and take on new partnerships with firms in the content management space.

“The reason the opportunity has opened up is because we’ve seen some consolidation in our vertical in 2016, with four different transactions taking place with our competitors,” he said.

“Consequently our technology has become more sought after.”

In May, Adobe acquired Stackla competitor Livefyre for an undisclosed sum, having previously participated in the start-up’s $US47 million Series D round, alongside Salesforce Ventures.

Monotype also acquired Olapic for $US130 million in July.

Turning down buyout…

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