Pardot cashed in on a buyout offer from ExactTarget to the tune of $95.5 million ($85.5 million in cash and $10.0 million in ExactTarget common stock). Pardot did not receive any VC funding so this means a big payout to founders and shareholders.
Pardot started in 2007 and quickly became a marketing automation favorite for small to medium sized businesses. Now at 1,000 customers, Pardot’s clients include Restaurant.com, comScore and twilio.
“Pardot has emerged as the leading provider of marketing automation for clients in the small business and mid-market,” said Adam Blitzer, Pardot co-founder and chief operating officer. “Now as a part of the ExactTarget family, we can provide our clients with even greater capabilities, as we leverage ExactTarget’s substantial resources and industry leading cross-channel messaging platform. Our goal remains the same – to redefine marketing automation and help marketers around the globe achieve even greater results.”
“Marketers around the world are hungry for a lead nurturing solution that integrates with their broader marketing efforts and transcends the current offerings available from point solution providers,” said Scott Dorsey, ExactTarget co-founder and chief executive officer. “With the addition of Pardot to the ExactTarget suite, we will redefine marketing automation and deliver the most scalable, comprehensive automation solution that helps both B-to-B and B-to-C marketers leverage the power of data to connect with customers across email, mobile, social media and the Web.”
This acquisition follows many others in the space that include Radian6 & Buddy Media (now part of Salesforce), Aprimo, Inc. (now part of Teradata), CheetahMail Inc. (part of Experian Group), e-Dialog Inc. (a subsidiary of eBay Inc.). Eloqua went public in earlier this year and Marketo is rumored to launch IPO.
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