CDP BlueVenn has been purchased by Upland Software, which owns a cluster of customer engagement products including Adestra, Kapost, PostUp, and Localytics. The company expects BlueVenn to unify and share data across all its systems. Price was $52 million, a modest 3.5x BlueVenn’s reported revenue of $15 million. It’s the latest of several CDP acquisitions by firms planning to connect separate customer engagement products.
Well, that was a fun day. It started with news that CDP vendor Boxever is being bought by digital experience platform Sitecore. It’s the latest CDP acquisition by a company wanting to unify its collection of digital experience systems. Sitecore announced in January that it planned to spend $1.2 billion to its grow its business.
In a far different corner of the galaxy, Instacart announced a $265 million financing round for its pandemic-fueled online grocery business. The raise brings total funding to $2.7 billion and values the company at $39 billion. This has more to do with martech than you may think: some of the money will grow Instacart marketplace and advertising services that leverage its massive customer base.
The U.S. Senate has passed a bill that could potentially ban TikTok in the U.S. if its Chinese owner, ByteDance, does not sell its holdings within a year. The bill now goes to the President Biden, who has said he will sign it. Court challenges are likely to follow.