Constant Contact Buys SinglePlatform for $65M+, Continues NY (& Web) Expansion
Constant Contact keeps on expanding in the world of digital marketing. Today the Waltham, MA-based marketing tech company (NASDAQ: CTCT) announced it has acquired New York City startup SinglePlatform for $65 million in cash, plus earnouts and retention fees that could bring the total price to around $100 million.
SinglePlatform started in 2010, and its investors include DFJ Gotham Ventures, First Round Capital, and RRE Ventures. The company makes software to help restaurants and businesses list their menus, products, and services across a large network of websites. The publishing network includes companies such as the New York Times, Foursquare, and Urbanspoon.
This is important because “there are hundreds of online and mobile sites that consumers use to find local businesses and make purchase decisions,” says Gail Goodman, Constant Contact’s CEO, in a statement. “SinglePlatform makes that incredibly simple—update your information once, and it’s delivered to all of the important search engines, apps, directories, and review sites.”
Wiley Cerilli, SinglePlatform’s founder and CEO, is joining Constant Contact as a vice president and general manager, and all of his employees are joining the firm as well, according to the press release.
Constant Contact has been growing in New York over the past year. The company opened an office in Tribeca last summer, following its acquisition of New York-based Bantam Live. The expansion comes amid a big technology and strategy evolution that has seen the firm move beyond e-mail and event marketing and into social, mobile, and Web platforms.