Spinback, founded by Capital Entrepreneurs alumni Corey Capasso and Andrew Ferenci, along with fellow Badger Dan Reich, was acquired today by Buddy Media for an undisclosed amount of money. Capasso and Ferenci were two of the original founders of Capital Entrepreneurs and moved to New York to ply their trade after graduating from the University of Wisconsin. They founded Spinback a little over a year ago and quickly found success.
It’s great to see Wisconsin entrepreneurs finding success both inside and outside of Wisconsin and even better to see some of the original CE members finding success!
This is Capasso’s second successful exit. Previously, he was part of ExchangeHut, a Madison, WI company that was acquired in 2008.
Facebook management platform Buddy Media has acquired Spinback, a social commerce and analytics platform that launched in October 2010.
“Thousands of websites have social sharing functionality, but they don’t understand how this sharing affects their business in terms of direct sales, indirect sales, conversion metrics,” says Michael Lazerow, CEO of Buddy Media. “With this acquisition, Buddy Media can now answer the question ‘what is the ROI of social media?’ better than anyone else in the market in a holistic way, both on Facebook and off, and on Twitter and email.”
Spinback has more than 20 clients, and its EasyShare social plugin allows consumers to easily share products and purchases via Facebook, Twitter and email. Lazerow says Spinback provides an “elegant” way to analyze all the sharing on a website and explain how it affects a company’s bottom line, especially because 90% of purchasing decisions are subject to social influence.