What's Buddy Media Doing With All That Cash? ($23 Million)

While Buddy Media may be telling all the press that the $23 million they just raised was for "hiring new people", we know what they're really doing with the massive new war chest.

While Buddy Media may be telling all the press that the $23 million they just raised was for “hiring new people”, we know what they’re really doing with the massive new war chest: acquiring companies.

The social media monitoring and management space is heating up quickly. Currently focused entirely on Facebook marketing, Buddy Media is supposedly going to hit $20 million in sales this year. However if they are looking to make all their money in the saturated Facebook marketing space, there will need to be some consolidation. Whether that includes acquiring their original competitor Context Optional, or going after one of the smaller companies (which is more likely), we’re not quite sure, but there’s a lot one can do with $23 million.