Facebook Agency Brand Networks Raises $68M From Private-Equity Firm
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In a deal that hearkens back to the heady days of 2011 when venture capitalists were pouring money into social-marketing startups, an under-the-radar Facebook marketing firm called Brand Networks has just raised $68 million.
The Boston-based company’s narrative is different from a crop of startups it came of age with like Buddy Media, Vitrue and Wildfire, which were acquired last year for nine-figure sums. Founded in 2007, Brand Networks was bootstrapped, and the $68 million investment from AEA Investors, a private-equity firm, marks the first time it’s raised capital.
Brand Networks is in the business of helping brands with their Facebook presence; it builds apps, facilitates publishing (which it now does for Twitter and Tumblr as well), provides analytics, and enables ad buying through Facebook's API. Brand Networks is a Facebook "strategic preferred marketing developer," a designation it's currently applied to 13 companies that are "driving outstanding positive impact in our marketing developer ecosystem."
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