Americans buy the loss-making Czech company Socialbakers for billions

Czech software Socialbakers found a buyer, the American company Astute. The redemption amount has not been announced, it is officially supposed to be one of the largest exits on the Czech technology market. According to information from Lupa, this is a transaction of units of billions of crowns. The company was sold completely, including the share of the founders Jan Řežáb a Martina Homolky.

Socialbakers have long generated a loss, approaching one billion crowns. The company stated that invests in a new generation of cloud software for working with social networks and digital campaigns. The company was also in the red in 2019. According to the financial statements, the loss was $ 125 million with a turnover of one billion and deferred income of 410 million. Socialbakers employ over 500 people.

Astute develops software and services for customer support. The official explanation for the connection with Socialbakers is as follows: “Today, more than ever, customers interact with brands on third-party-owned channels, such as social media, but also on their own channels such as the brand’s website or e-shop. That’s why there is a growing need for a unified platform to help them understand their customers and their preferences, from the first brand meeting to after-sales service. The market for customer experience management tools is estimated at $ 20 billion and is growing at approximately 20 percent per year. That’s why combining the SaaS tools Astute and Socialbakers makes sense. ”

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