Google just acquired social media marketing company Wildfire.
AllThingsD reported “people familiar with the transaction” estimate Google bought the social ad business for $250 million, “plus earnouts, employment agreements, etc.”
Wildfire currently serves 16,000 customers, including 30 of the top 50 brands, and it reportedly raised $14 million since founding in 2008. Google will likely merge Wildfire into its ever-expanding social and advertising services to better entice marketers into buying either traditional or display ads for a variety of platforms— even direct rival Facebook.
Both companies took to their respective blogs today to confirm the buyout (below).