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	<title>Betabeat &#187; SinglePlatform Scores a Valley-Sized Exit for New York With Sale to Constant Contact</title>
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		<title>Betabeat &#187; SinglePlatform Scores a Valley-Sized Exit for New York With Sale to Constant Contact</title>
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		<title>SinglePlatform Scores a Valley-Sized Exit for New York With Sale to Constant Contact</title>

		<comments>http://betabeat.com/2012/06/singleplatform-scores-a-valley-sized-exit-for-new-york-with-sale-to-constant-contact/#comments</comments>
		<pubDate>Wed, 13 Jun 2012 08:56:23 -0400</pubDate>
					<link>http://betabeat.com/2012/06/singleplatform-scores-a-valley-sized-exit-for-new-york-with-sale-to-constant-contact/</link>
			<dc:creator>Adrianne Jeffries</dc:creator>
				
		<guid isPermaLink="false">http://betabeat.com/?p=49931</guid>
		<description><![CDATA[<p><div id="attachment_49939" class="wp-caption aligncenter" style="width: 610px"><a href="http://twitter.com/#!/wileycerilli"><img class="size-full wp-image-49939" title="single platform sales floor" src="http://nyobetabeat.files.wordpress.com/2012/06/single-platform-sales-floor.jpg" alt="" width="600" height="450" /></a><p class="wp-caption-text">The SinglePlatform sales floor. (Photo: Twitter.com/wileycerilli)</p></div></p>
<p>It's not often that numbers are this forthcoming after an acquisition. But New York-based <a href="http://SinglePlatform.com">SinglePlatform</a>, a one-stop-shop where local businesses can manage their presence on sites across the web from Foursquare to the <em>New York Times</em>, should be happy that the terms of its recent acquisition are being disclosed. This morning it was <a href="http://www.constantcontact.com/landing/single_platform/index.jsp">announced</a> that the company, founded in 2010, has sold to email marketing provider <a href="http://constantcontact.com">Constant Contact</a> for $65 million in cash "subject to certain adjustments." The company will also get $5 million for employee retention and between another $10 million and $30 million if it meets revenue targets.</p>
<p>Constant Contact is a public company that launched in 1998. Constant Contact expects SinglePlatform, which manages 600,000 listings, to bring in $1 million of revenue in 2012 and $10 million in 2013. <!--more-->"We at Constant Contact have always had a disciplined investment strategy," the company said on a conference call this morning. Constant Contact believes SinglePlatform has hit a "tipping point," and "the company has demonstrated an ability to grow at exceptional rates, and we expect that to continue."</p>
<p>SinglePlatform raised a total of $4.45 million from First Round Capital, RRE Ventures, DFJ Gotham, New World Ventures, Gunderson Dettmer, and Seamless founder Jason Finger. (SinglePlatform CEO Wiley Cerilli ran sales for 10 years at Seamless.) <a href="http://betabeat.com/2011/08/dfj-gotham-leads-3-25m-round-in-singleplatform-wiley-cerillis-one-stop-shop-for-restaurants/">SinglePlatform raised a round</a> most recently last summer, when it expanded its customer base from just restaurants to all small businesses.</p>
<p>Mr. Cerilli will stay on as head of SinglePlatform in New York, and was awarded 49,529 restricted shares which will vest on a three-year schedule if he sticks around. Constant Contact touted the SinglePlatform team's record of scaling large companies on the conference call this morning. SinglePlatform will shift to a freemium model. Constant Contact expects demand for its products will overlap with demand for SinglePlatform's service.</p>
<p>SinglePlatform's sale represents a very tidy return, bringing hope to a city with a vibrant startup scene but few big exits to look up to--especially as we hear rumors of a <a href="http://news.ycombinator.com/item?id=4067297">startup winter</a>.</p>
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		<content:encoded><![CDATA[<p><div id="attachment_49939" class="wp-caption aligncenter" style="width: 610px"><a href="http://twitter.com/#!/wileycerilli"><img class="size-full wp-image-49939" title="single platform sales floor" src="http://nyobetabeat.files.wordpress.com/2012/06/single-platform-sales-floor.jpg" alt="" width="600" height="450" /></a><p class="wp-caption-text">The SinglePlatform sales floor. (Photo: Twitter.com/wileycerilli)</p></div></p>
<p>It's not often that numbers are this forthcoming after an acquisition. But New York-based <a href="http://SinglePlatform.com">SinglePlatform</a>, a one-stop-shop where local businesses can manage their presence on sites across the web from Foursquare to the <em>New York Times</em>, should be happy that the terms of its recent acquisition are being disclosed. This morning it was <a href="http://www.constantcontact.com/landing/single_platform/index.jsp">announced</a> that the company, founded in 2010, has sold to email marketing provider <a href="http://constantcontact.com">Constant Contact</a> for $65 million in cash "subject to certain adjustments." The company will also get $5 million for employee retention and between another $10 million and $30 million if it meets revenue targets.</p>
<p>Constant Contact is a public company that launched in 1998. Constant Contact expects SinglePlatform, which manages 600,000 listings, to bring in $1 million of revenue in 2012 and $10 million in 2013. <!--more-->"We at Constant Contact have always had a disciplined investment strategy," the company said on a conference call this morning. Constant Contact believes SinglePlatform has hit a "tipping point," and "the company has demonstrated an ability to grow at exceptional rates, and we expect that to continue."</p>
<p>SinglePlatform raised a total of $4.45 million from First Round Capital, RRE Ventures, DFJ Gotham, New World Ventures, Gunderson Dettmer, and Seamless founder Jason Finger. (SinglePlatform CEO Wiley Cerilli ran sales for 10 years at Seamless.) <a href="http://betabeat.com/2011/08/dfj-gotham-leads-3-25m-round-in-singleplatform-wiley-cerillis-one-stop-shop-for-restaurants/">SinglePlatform raised a round</a> most recently last summer, when it expanded its customer base from just restaurants to all small businesses.</p>
<p>Mr. Cerilli will stay on as head of SinglePlatform in New York, and was awarded 49,529 restricted shares which will vest on a three-year schedule if he sticks around. Constant Contact touted the SinglePlatform team's record of scaling large companies on the conference call this morning. SinglePlatform will shift to a freemium model. Constant Contact expects demand for its products will overlap with demand for SinglePlatform's service.</p>
<p>SinglePlatform's sale represents a very tidy return, bringing hope to a city with a vibrant startup scene but few big exits to look up to--especially as we hear rumors of a <a href="http://news.ycombinator.com/item?id=4067297">startup winter</a>.</p>
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