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Socialize Was Acquired by ShareThis. Here's What The Experience Was Like.

As was reported in TechCrunch today, we've just signed a deal to sell our startup Socialize to ShareThis. Although having a successful exit is a dream for many entrepreneurs, I find myself feeling a wide range of emotions and thoughts. I'd like to share some of them in this blog to provide an honest assessment of what it's like to work tirelessly on a startup and then sell it.

The first thing I want to say is that often upon a sale, you'll hear everyone involved talk about how "pumped" or "excited" they are. The truth of the matter is that it's much more complex than that. There is absolutely a sense of excitement. But I've asked for, and gotten, permission from ShareThis to speak honestly about the wide range of feelings and to speak to the complexity of it all so I can provide a more thoughtful and honest assessment than one typically sees in these situations. Think of it as a peek under the covers of an acquisition.

I've broken this blog up into several parts:

I'll start with the really positive aspects: We're selling Socialize to the absolute best buyer I can imagine. ShareThis is a very fast-growing company with a strong team. As Forbes recently reported, ShareThis is #35 on its America’s Most Promising Companies list. Forbes pegged 2012 revenue at $30MM, and it’s on a rocketship-like growth trajectory. ShareThis didn't just buy us for our talent, but also because its beliefs around the value of social are closely aligned with our own, and because mobile is becoming a big part of its business (see this related blog post with my warning to Fortune 1000 CEOs about the sudden growth of mobile). ShareThis wanted to gain an immediate leadership position in social via the mobile channel, and with Socialize it's achieved that. And Socialize has gotten an incredible platform from which to further develop our social infrastructure for mobile devices. The fit just couldn't be better. Often when I would describe Socialize to people, they would say "so it's like ShareThis, but for mobile, right?" Exactly. So I'm very confident that together, the value of the two companies will be greater than their respective parts, and I'm very pleased that ShareThis saw the same benefits (dare I say, "synergies"). A lot of the credit here goes to Nanda, ShareThis' CTO, who called me out of the blue one day and said "we should do this deal; I know it'll be perfect," and to the ShareThis team for backing Nanda's vision.

10 issues reg big businesses and Social Media: A Study by TCS!!!

On Social Mediatrics

In my last post, I had given reasons why small businesses don't use social media, so this post I decided to see how the big business fair in Social Media.

Tata Consultancy Services (TCS), India's giant IT service company, conducted a survey of 655 global companies from mostly $1 billion+ consumer companies in June and July 2013 in its report titled: 'Mastering Digital Feedback: How the best consumer companies use Social Media' .The average revenue of our respondents was $15.6 billion (median of $4.9 billion).

There are many issues relating to Social Media according to TCS, but the company felt that these are the 10 most important issues:

1. Some 38% of consumer companies report a positive return on their social media investments – more than double the number of companies with a negative ROI –but 44% haven’t measured the return

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