![]() ![]() ![]() "He has been able to take untrained sales people and train them and get them productive within two weeks, which is something we've never seen in any other company." "Wiley knows how to build a sales force better than anyone else," Mr. Howard Morgan, a partner at First Round who made the investment in SinglePlatform in 2010 and has served on the board since then, said the value of the company was helped along by Mr. Very few acquisitions hit this kind of value," he said. "SinglePlatform was funded appropriately, only taking $4.5 million to create potentially $100 million. SinglePlatform had raised about $4.5 million in three rounds since it was founded in early 2010.Ĭharlie O'Donnell, a former First Round investor who sourced SinglePlatform for the firm, said the deal is a great outcome for the company and the fund. Investors in SinglePlatform included DFJ Gotham Ventures, First Round Capital and RRE Ventures. Spectrum Equity Investors now owns a minority stake in SeamlessWeb. Goodman said.Ĭirelli previously founded SeamlessWeb, an online food delivery platform that sold to Aramark Corp. "We believe that getting our basic information accurate all across the Web and mobile is a basic right of small businesses, and they shouldn't have to pay for that," Ms. "After that first entry point, we will be able to introduce them to the rest of our tools."Īs part of the deal, small businesses will be able to create basic listings for free and post them online through SinglePlatform's publishers. "We are looking at it as a 'front door' for businesses to find their first Constant Contact solution," Ms. Goodman also stressed that the Boston-based company, with more than 510,000 paying customers, expects to benefit from SinglePlatform's popularity among small businesses and its existing customer base, which according to the company itself includes more than 600,000 free listings nationwide. That's the problem SinglePlatform solves unbelievably well." "As a small business, when that search happens I want to make sure that I'm found. "Almost 50% of local searches for consumers are done without any specific destination in mind," Ms. SinglePlatform also syndicates their content to a network of about 100 digital publishers, among them some big partners like the New York Times and Foursquare, that reach more than 200 million consumers a month.Ĭonstant Contact CEO Gail Goodman said Wednesday that SinglePlatform will help the company in its mission to help small businesses grow customer relationships. SinglePlatform enables local businesses to manage their Web presence by integrating their websites, Twitter and Facebook accounts, and mobile applications in a single place. As part of the deal, Constant Contact will pick up the entire team behind SinglePlatform's chief executive, Wiley Cirelli, for an earnout of about $5 million in cash and equity compensation after two years. , a venture-backed company that helps local businesses develop an online presence.Ĭonstant Contact said it will pay about $65 million in cash for the acquisition and an additional $10 million to $30 million if SinglePlatform achieves certain revenue objectives. said Wednesday it has agreed to acquire SinglePlatform Corp. Online marketing company Constant Contact Inc. Constant Contact Buys SinglePlatform for up to $100M ![]()
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