Selling Social

Buddy Media’s New Director of Product, Andrew Ferenci, Talks Social Media ROI

Can Buddy Media tame that mane?

Back in May, as it was on the brink of closing its first big round of funding, social commerce startup Spinback was acquired by Buddy Media, the 800 pound gorilla in the social marketing world. Since then, says Buddy Media CEO Mike Lazerow, Spinback has become tightly integrated into Buddy Media’s daily work, especially when it comes to showing big clients what they are getting from the campaigns they run. Betabeat chatted with Spinback founder and CEO Andrew Ferenci, who is now director of product developement at Buddy.

How are things going with the integration of Spinback into Buddy Media?

It’s going really well. Sometimes a product gets bought and the integration takes a long time. Or worse, the product never really gets integrated and then it gets killed off, like Google did with Dodgeball. We’re only three months in, but the product fit just seems right, and we’re getting close to the finish line for launching a brand new version of Spinback that will tie us into the larger mission here at Buddy.  Read More

Accelerators

Polaris Ventures Made No Return on Dogpatch Labs New York’s First Exit

matt meeker

The sunny Polaris Ventures-sponsored Dogpatch Labs space is a mystery! Start-ups hand-picked by Polaris Ventures and entrepreneur-in-residence Matt Meeker get to jam on their product for six months and often longer rent-free, giving up no equity stake, agreeing to no “first-look” caveats, no strings attached, in a super space just south of Union Square. And despite some rumorous rumblings to the contrary, start-ups seem to have no trouble moving up after they leave. Today the five-person analytics start-up Spinback was acquired by Buddy Media for an undisclosed sum which was “very compelling”–compelling enough that the company scrapped the term sheets it had signed with east and west coast VCs for an (also undisclosed–but “very normal”) Series A. And after giving the company free rent along with the free coffee, free lunches and visits from tech luminaries that come with the space, Polaris Ventures made zero monetary return on their success. Read More

Acquisitions

Spinback Poised to Close Series A When Buddy Media Snapped Them Up

Andrew Ferenci, 24-year old founder of Spinback.

Buddy Media, the Facebook managing platform for businesses, announced this morning it had acquired the five-person New York start-up Spinback, which makes a social media plug-in and analytics dashboard that customers can enable by embedding a few lines of code on their web sites. “I’ve never seen a product that does what it does. It does what four or five technologies do in one,” said Buddy Media CEO Mike Lazerow when Betabeat reached him by phone this morning at Disney World, where he was attending the Mashable Connect conference with Spinback CEO Andrew Ferenci. Read More