The deal is for $125M in cash plus up to $50M in possible earn outs, and is expected to close in Q2 2018.
Founded in 2010 Main Street Hub has raised a total amount of $93M in equity and debt funding from Silicon Valley Bank, Vista Equity Partners, Bessemer Venture Partners and other investors.
For a monthly fee, Main Street Hub handles all aspects of a business & rsquo; online presence such as internet, cellular and email marketing, CRM networking, reputation management and marketing automation.
But of course these days the most important part of a business&rsquo existence is their social networking action, which can be where Main Street Hub shines. The company has a group of designers, writers, photographers and designers to create and manage content on most of rsquo & a business; websites that are social.
If you’ve noticed a small companies&rsquo media page you understand that they generally come in two shapes and sizes. The first, and considerably more frequent, is if pages were created years ago but lack any substantial action or articles because most business owners either don’t have the bandwidth or don’t understand how to consciously manage a social networking profile.
More infrequent and the second is the actively managed page that posts updates regularly and very frequently participates with customers. The result is usually tons of traffic, focus, and customer interaction — all of the benefits that come along with having an active profile.
Where Main Street Hub comes in so rsquo & ; s. It’therefore essentially a turn-key option for business owners and operators that don’t have the opportunity to manage their networking profile that is social but need. The company has which range from restaurants to auto repair shop and everything in between.
Obviously GoDaddy also serves companies — they have over 17M small business customers who utilize more or one of rsquo & GoDaddy;s goods. However, while GoDaddy has with building handling and websites an expert web services department that helps SEO for they small companies’ve never had an offering linked to handling networking activity for small companies — that makes this deal a perfect match.
And there is already rsquo; customer bases & considerable overlap between both companies, clarified Senior Vice President of Commerce and Presence at GoDaddy, Lauren Antonoff. Following the sale closes GoDaddy will provide Main Street Hub’s services directly to GoDaddy customers, meaning that a GoDaddy customer will soon have the ability to pay for someone to handle their business’ site development, email marketing and social networking platforms.
For now Main Street Hub will continue to run exactly like it did with Main Street Hub co-CEOs and co-founders Matt Stuart and Andrew Allison joining GoDaddy in leadership positions, and remain based in Austin, before the acquisition.
Read more: https://techcrunch.com