The world's most popular social-media management platform has bought a Los Angeles-based company's Snapchat analytics innovation.
Hootsuite, which is based in Vancouver, has announced that it's bought a solution to analyze and enhance digital video campaigns from Naritiv.
The price has not been disclosed.
Hootsuite has also opened a new Los Angeles office.
“Brands are turning to video-centric networks like Snapchat to engage with their audiences,” Hootsuite CEO Ryan Holmes said in a media release. “Naritiv has been at the forefront of connecting brands and agencies with Snapchat influencers and their audiences. We’re thrilled to integrate Snapchat functionality into the Hootsuite platform to help our customers take full advantage of this dynamic video network. Snapchat is the new TV."
Holmes posted an amusing video on YouTube to let viewers in on the details.
Snapchat has 156 million users, who watch 10 billion videos per day.
“We felt our Snapchat solution was complementary to the innovative marketing solutions that Hootsuite offers to brands and agencies,” Naritiv cofounder Dan Altmann said in today's news release. “Hootsuite is a market leader for social media management across both paid and organic channels and we’re excited to see Hootsuite take our technology to the next level."
In February, Hootsuite bought New York-based LiftMetrix and San Francisco-based AdEspresso.
LiftMetrix measures returns on social-media marketing investments; AdEspresso manages the placement of digital ads on Facebook.
A Fortune magazine report noted that Hootsuite became cash-positive in the second quarter of last year. This has put the company in a position to buy smaller companies and expand its footprint in the digital-advertising world.