HootSuite Reports Strong Start to 2014

HootSuite mascot | BCBusiness
HootSuite mascot “Owly” meets Internet phenom Grumpy Cat.

Private digital media company reports new hires, more customers in lieu of financial results

Curious to know how HootSuite is doing eight months after its $165 million venture capital deal? On Wednesday the privately-held company issued a few figures on its first quarter that give an indication, if limited, of its performance.

In its roundup of the first quarter of 2014, ending March 31, HootSuite reported 1,300 new subscribers to its social media management tool and 186 new enterprise customers, which together make up the bulk of its revenue. While HootSuite does not disclose its revenue figures, its corporate subscriptions start at around $1,000 per month.

As for how HootSuite is spending its $165 million in venture capital funding? Sector highlights include its acquisition of social media analytics company uberVU. While the terms of the deal were not disclosed, tech blog TechCrunch pegged that deal at somewhere between $15 and $20 million.

The company also reported results of its highly-publicized hiring spree: in the first few months of the 2014 HootSuite filled 112 new roles, bringing its global headcount to over 500. Hires included a new chief technology officer, Ajai Seghal, tasked to head the company’s product teams and strategy.

“For the rest of 2014, we will stay focused on forming even more strategic partnerships,” and developing new products, said Ryan Holmes, in a release. “Social is playing a huge role across large-scale global organizations.”