February 11, 2010

FundingUniverse acquires TwitJump!

We are excited to announce publicly that FundingUniverse has officially acquired TwitJump!  We are excited about the opportunity to continue to expand our offering to help business owners to grow their business.  In addition to the technology, it also solidifies our relationship with Alex Lawrence by bringing him on to our executive team.  Here is the formal press release:

Social Media Acquisition Next Growth Step for FundingUniverse

Serial Entrepreneur and TwitJump Founder, Alex Lawrence, to join FundingUniverse as part of transaction

Salt Lake City, UT — Feb. 11, 2010 — FundingUniverse(www.fundinguniverse.com), a leader in connecting qualified entrepreneurs with active investors and lenders across the United States, announced that it has added social media startup, TwitJump to FundingUniverse’s growing suite of business services. Terms of the acquisition were not disclosed.

With more than 23 million visitors a month, Twitter.com has become one of the leading social media sites in the world and presents tremendous opportunities and challenges for companies trying capture new customers via social media channels.

“We believe the TwitJump acquisition represents great value for our customers,” said Brock Blake, CEO at FundingUniverse. “In a very short time, TwitJump has attracted more than 2,000 customers. With FundingUniverse fielding more than 10,000 customer inquiries a month, this acquisition represents a significant growth opportunity for the TwitJump platform.”

TwitJump is a leading social media solution and enables companies to more effectively manage their presence on Twitter. The product’s multiple business management tools help companies solve the issue of trying to quantify return-on-investment for social media efforts by providing real customers and live data. The rapid growth of TwitJump recently landed the company on TechCruch’s list of the “Top 10 Digital M&A Targets for 2010.”

As part of the acquisition, Alex Lawrence, TwitJump founder, will become a partner, join the Board of Directors and assume the role of Chief Evangelist with responsibilities over FundingUniverse’s nationwide expansion, social media and national partner relations.

“We are excited to have Alex join FundingUniverse,” said Blake. “Alex brings a wealth of entrepreneurial experience to the FundingUniverse executive team and is already making a tremendous impact in all aspects of our organization.”

“While we had multiple term sheets on the table from some great companies,” said Alex Lawrence, founder TwitJump, “the strategic and personal fit with FundingUniverse for TwitJump was a significant contributor to our decision to move forward with FundingUniverse. I look forward to helping FundingUniverse take that next step of growth and expansion.”

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