Hootsuite considers sale for US$750m: Reuters

Hootsuite Inc. is considering a sale that would value the Vancouver-based social media management company at US$750 million or more, according to a report from Reuters.

Sources tell the news agency that Hootsuite has enlisted Goldman Sachs Group Inc. to assist with a potential sale.

Hootsuite has also been the centre of speculation over the years for a possible initial public offering.

This ramped up in October 2015 when the social media management company hired Sujeet Kini as its first chief financial officer. Kini previously worked as chief accounting officer at OpenText (TSX:OTC), one of Canada’s largest publicly traded software companies.

Greg Twinney from Real Matters Inc. replaced Kini in January 2018.

The following March, Hootsuite announced it had entered into a credit financing agreement for up to US$50 million in growth capital from CIBC Innovation Banking.

Hootsuite did not immediately respond to a request for comment from Business in Vancouver.

Business in Vancouver – Oct 9, 2018

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