Storify, a popular tool for combining social media posts into context rich articles, has been bought by Livefyre, a social commenting system, and together they form a pretty unique set of features that push social boundaries.
Livefyre Building a Web CMS for Social Media
Storify allows customers to aggregate social media posts from around the Web into one place, but it's mostly a free tool that up to now had not been a great business model for the company. Livefyre's social commenting system and StreamHub Enterprise suite has been more commercially successful, and integrating Storify into that system will ensure its survival.
Additionally, Storify's technology will be integrated into the StreamHub suite so customers can take advantage of the drag and drop functionality Storify is built on. StreamHub is a way for websites to automatically pull in social media content based around a location or keyword for example. This content is chronological in order based on whatever rules are input, where the Storify system allows for more editorial control of that content flow, Jordan Kretchmer, Livefyre CEO said in an interview.
Publishers, media websites and advertising agencies use this social data to augment their own content, but also build engagement through social media. By adding that social content to a website, all the traffic and engagement can then take place right on a company's own pages.
"Our vision of Livefyre is to be a content management system for the social Web," Kretchmer said.
Integrating social media into many a website continues to be difficult, something Livefyre is working to change, he said.
"There's a lot of rigidity there that we can help solve on the front end."
Storify + Livefyre Have Similar Visions of the Web
Kretchmer had long been friendly with Storify CEO and cofounder Xavier Damman, and the two had similar visions of what the Web should be, Kretchmer said. Storify is the best at what they do, Kretchmer said, and their team was excited about the possibilities the two teams could come up with if Livefyre bought them out.
First up, integration wise, would be to swap out Storify's back end with the Livefyre engine, and this will make Storify stories more dynamic. Then other long requested Storify features can roll out more quickly as well. Things like single sign in, and allowing multiple editors in Storify can be implemented faster with the influx of cash and talent on the Livefyre side.
As Storify is integrated with StreamHub, it will be offered along side the company's other enterprise products, but both companies will maintain their free versions, Kretchmer said. Not only that, but the interfaces won't change much either, as both companies are happy with them at this point.
Both companies currently integrate with around 15 social media sources, and pulling in all that content for use on organizations' own websites to drive engagement is the key. So much so, Livefyre has built a native ads builder for creating social ads that curate Facebook and Twitter posts the same way as its commenting system. Retailers and media companies have been buying Social Native Ads, Kretchmer said, and Chevy and PlayStation are two of its newest customers.
For StreamHub, Livefyre does enterprise deals in the six and seven figure range, he said, and the price is dependent on a number of factors. With over 400 enterprise customers, Livefyre seems to have the cash to continue investing in innovative social media tools. We feel like this is a pretty interesting deal, and we look forward to seeing the integrated product, as well as using Storify on more of our Tweet Jam recaps.