Another day, another exit for a Dallas startup. The latest firm to cash out on the back of its success is real-time social-listening analytics, visualization and engagement provider MutualMind, which has just been acquired by research powerhouse Shapiro+Raj.
Founded back in 2009, MutualMind can rightly claim to be one of the earliest “social listening” startups on the block, delivering a powerful yet easy-to-use social media analytics product that has won acclaims from customers and analysts. For businesses, “social listening” can be an extremely powerful tool that enables them to monitor and act on changes in the way consumer’s perceive their brand, but trawling through millions of Facebook posts and tweets on Twitter is not exactly an easy task. Powerful software is the only way to go, and MutualMind’s popular Adaptive Listening technology has given companies an easy way to automate social media analysis, allowing brand strategists and market research analysts to keep up to the second with the latest consumer insights.
“In today’s hyper-complex business and marketing environment, clients need powerful insights that can inspire big ideas, and they want to get these results quickly and efficiently,” said Zain Raj, president and CEO of Shapiro+Raj, in a statement. “With the capabilities provided by MutualMind, we can integrate primary research with focused digital data to provide solutions that aren’t available anywhere else.”
There’s no word yet on if MutualMind plans to shut down its services now that it’s been acquired, but Raj was happy to talk about the new capabilities its technology will add to Shapiro+Raj’s existing research and strategy products. According to Raj, MutualMind will help bring a new level of speed, agility and next-generation insights to its clients.
Raj explained that his company had worked with MutualMind on many previous occasions, and said that it’s ability to quickly and efficiently deliver social data and insights was what convinced his company to buy the startup outright.
“This acquisition allows us to keep our finger on the pulse of consumers and influencers, bridging quantitative and qualitative research in a new way to provide multi-dimensional insights,” Raj explained.
Terms of the deal were not disclosed.