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Wall Street Journal Reports that Hootsuite May Be in Talks For Pre-IPO Investment From Mutual Fund Giant Fidelity
Wednesday, August 27, 2014Company Profile | Follow Company
Vancouver, BC, August 27, 2014--(T-Net)--The Wall Street Journal reported this week that local Vancouver-based social-media management company HootSuite may be in talks to secure a pre-IPO investment from Fidelity Investments, the Boston-based mutual-fund giant.
There have been periodic reports that Hootsuite may seek to go public in future, and an interim financing from Fidelity (or others) could be a pre-cursor to this scenario, as the company is currently growing rapidly (now over 600 employees worldwide, and hiring multiple positions on T-Net).
The WSJ reported thart the possible investment is likley still months away, and CEO Ryan Holmes tweeted this week "i can neither confirm nor deny..."
Hootsuite raised a massive $165 million financing a year ago from a group of venture-capital firms including Insight Venture Partners, Accel Partners of the U.S. and OMERS Ventures, and recently opened a second company headquarters office in the Mount Pleasant area of Vancouver (HQ2).
See the full report on the Wall Street Journal website here.
About Hootsuite
Hootsuite is a social relationship platform that empowers users to execute social media strategies across their organizations. Our vision is to revolutionize communications; our mission is to empower our customers to transform messages into meaningful relationships.
News Source: BEN DUMMETT
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