Buddy Media Cozies Up to Investors
Facebook advertising software valued at $500 million
Facebook’s power as an advertising tool has not gone unnoticed. Buddy Media, a firm that assists advertisers in managing their Facebook presence, is now valued at $500 million. The half-billion-dollar figure is the product of the company’s most recent financing round, which garnered them $54 million from investors such as Institutional Venture Partners and Insight Venture Partners.
Instead of inflating employee salaries or investor portfolios, the new round of financing will instead be used to expand, according to Buddy Media CEO Mike Lazerow.
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