Web and mobile applications are on their way to dominate both the consumer and business software landscape. But with popular app marketplaces already in place, what's the best way to build up your own app portfolio? Buy one. This is just what social media management suite HubSpot (news, site) has done, with its acquisition of Oneforty.
Oneforty launched in 2009 as an app marketplace for Twitter, which provided social business tools for businesses and online marketers. The service offered application developers a means to reach business users interested in exploring social media for customer engagement, analytics and other enterprise apps. With a bit over US$ 2.35 million in financing, Oneforty had once been in the sights of Twitter for a potential acquisition.
Merging of Assets
HubSpot has announced that Oneforty's human resource and software assets will be merged with its own. Oneforty CEO Laura Fitton — who wrote Twitter for Dummies — and her team will join the HubSpot staffing complement. Meanwhile, Oneforty apps, such as SocialBase, will be integrated into the HubSpot App Marketplace.
Aside from SocialBase, Oneforty's directory will also merge with HubSpot App Marketplace, for a more comprehensive collection of business-oriented applications for social media.
Merging our directory into the HubSpot App Marketplace will create the world’s largest marketing app store. We’re excited to integrate features from SocialBase right into HubSpot’s core product. Very soon we’ll have more info on how this affects you, and lots to share about how HubSpot can support your business.
A Growing Business
HubSpot received US$ 32 million in Series D funding in March 2011 from Sequoia Capital, Google Ventures and Salesforce.com. The company acquired social media optimization suite Performable in June, and had announced plans to further expand with more acquisitions.
Some speculate that the deal is a mix of merger and an acqui-hire deal, particularly with Oneforty's talent getting onboard HubSpot. Neither HubSpot nor Oneforty has disclosed financial details about the acquisition. What is sure at this point is that Fitton will be taking an evangelist role in HubSpot, publicly promoting the platform and its products.