Trufan to Buy Audience Segmentation Tool SocialRank

Social media intelligence and fan engagement platform Trufan has agreed to acquire audience segmentation tool SocialRank, which helps brands understand, organize and activate audiences on social media. Terms of the deal have not been disclosed.

Founded in 2014 by Alex Taub and Michael Schonfeld, New York-based SocialRank helps brands find their most valuable and most engaged followers on Twitter and Instagram. To date, the firm has raised $2.1m in investment funding, used to develop products including SocialRank for Teams, Market Intelligence and SocialRank for Content.

Toronto, Canada-based Trufan says the deal will enhance its own platform, which helps brands activate their grassroots communities. Whereas Trufan focuses on fan engagement, SocialRank offers audience segmentation, and Trufan says the two platforms supplement one another for common use cases - for example,r product sampling, location-based activations and finding the right influencers. Trufan will continue to operate SocialRank as a standalone product. Taub and Schonfeld will initially act as strategic advisors to Trufan as they pursue their next venture - development of a new social media platform called Upstream.

Trufan's COO Aanikh Kler (pictured) comments: 'SocialRank has created a unique product that allows its customers to harness the power of big data in an intuitive and seamless way. The collaboration between SocialRank and Trufan will be one of the strongest combined offerings in the entire social ecosystem'.

Web sites: www.trufan.io and www.socialrank.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.