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Posted at 11:04 am

2010 Mar 2

ExactTarget Acquires Twitter Pioneer CoTweet 3

We're excited to that our portfolio company CoTweet has been acquired by ExactTarget – here's the press release complete with quote from Twitter COO Dick Costolo .   This is a great outcome for the company and a perfect fit for ExactTarget, and CoTweet CEO Jesse Engle will continue to lead the team and the new Social Media Lab they're creating.

CoTweet is how business does Twitter – and as you can from this "refrigerator door magnet logo wall" from a presentation a few months back, they certainly have attracted a blue-chip set of customers.  In fact, ExactTarget was listed among them, something other aspiring startups should take note of.

CoTweet_Customer-Logos

For me, a key moment in the investment decision was while I attended the Bazaarvoice Social Commerce Summit last year, and the CMO of Dell said she had 39 different Twitter accounts managed by 39 different people and one of them had sold over $1M in computers so far.  What I heard was that virtually every business would eventually be managing multiple presences on multiple social media sites and they'd need tools like CoTweet to help manage it.

We've really enjoyed working with the team and their advisors, and with great investors like Steve Anderson at Baseline, Maples Investments, Freestyle Capital, SV Angel and Founders Fund

We first met Jesse and the team back when they were based in Pennsylvania, but it soon became clear that they belonged in the Bay
Area. They've come a long way from Chocolate Avenue in Heshey, PA to Pier 38 in San Francisco, CA and they've still got a long way to go – congrats!

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