June 2009 doesn’t seem that long ago. Still etched in memory is seeing that life size owl mascot for the first time working a room full of Vancouver startup folks. I thought 140 characters of micro-blogging was a bastardization of the English language, so why does the world need a dashboard for it.
In this case eating humble pie didn’t taste so bad. Turns out that early Summer night, the early stage startup Hootsuite walked away with the “Peoples Choice” award. My tune about Twitter also changed less than 6 months later as a co-founder of the visualization application Mentionmapp. Seemed like Twitter and Hootsuite might turn out to be something afterall.
Since closing a $165 million Series B financing the past 14 months has seen Hootsuite on a tear. With last weeks news of having raised $60 million in new private equity and debt funding their total outside financing is $250 million. Add in the most recent acquisitions of startups BrightKit and Zeetl, founder and CEO Ryan Holmes is guiding the company towards realizing his long time commitment to building a Vancouver company that’s making a big impact on the local ecosystem, and beyond. Plus he’s been unwavering in about creating a $1 billion (plus) Canadian tech company.
With a rare stop over these days in Vancouver, and even rarer 20 minute window of time in his schedule, I was fortunate to share an exclusive conversation with Holmes.
“It’s been a great week, and great month and really good year. We’re excited to share that the company has doubled revenue, doubled valuation, over 10 million users, including 744 of the Fortune 1000 as clients,” he highlighted. With their existing investors joining this latest round, and a new Boston based investor (he didn’t comment on the Wall Street Journal reporting it being Fidelity Investments, nor the IPO rumours) Holmes thinks “it also validates their excitement for the business.”
The acquisitions are all about “building out the social suite.” Holmes sees the Hootsuite platform akin to what “Microsoft Office or Google Apps does for office productivity. We’re creating a suite of tools to help our clients manage social.”
Being on this aggressive fundraising journey, and experiencing the subsequent rocket like growth trajectory I asked him how tight he’s keeping the seat belt buckled. “It’s been a real blessing to be able to participate in the huge evolution of the social business. It’s fantastic to be creating a great Canadian tech company and story.” He touched on his excitement for attracting some of this country’s best and brightest here working with the team and the product. Just as importantly according to Holmes is “seeing people have experiences that will last throughout their careers.”
As well, he talked about the notion of creating the ‘MapleSyrup Mafia’ saying “some of the folks from Hootsuite may go out and create their own product, or maybe even be acquired by us or others. Hopefully they’ll go on to create other Hootsuites throughout the country and really help build an even more vibrant tech community.”
Asked if he sees a societal relevance of social beyond being simply the marketers best friend, Holmes replied with an unequivocal “absolutely. It’s so relevant, I think that conversation thankfully for the most part has died. As we’ve seen Twitter and Facebook IPO for instance, I have little doubt that social media is here to stay.”
Channeling my inner Marshall McLuhan, I pressed that beyond the medium being the message can social media be a medium of mobilization? “I think we’ve already seen this, with it being a spark of revolutions and contributing to the toppling of governments,” he said. “We’ve seen how much it can transform society. It’s not just a marketing tool, it’s a way we’re reorganizing and communicating societally. It’s a channel everybody’s paying attention to.”
Holmes added that “with both governments and protesters using our platform, we have an interesting and unique perspective to see how people communicate. get messages out, and bring dialogue to leadership and democracy around the world.”
Looking into the crystal ball, I asked him what he’s seeing in the future for social media. He mentioned how social commerce and social advertising two interesting trends. Furthermore he suggested, “just like search has become a blend of organic and paid, I think we’re going to see the same trend with social. There will be a blend of paid social, and organic social.” Holmes pointed out the Hootsuite is currently powering 5 million organic messages a day.
With offices open in London (UK), Singapore, and now looking at one in Latin America, and expanding Vancouver operations, Hootsuite continues to soar. On the strength of that overstuffed owl mascots tiny wings, Holmes and his team have carried themselves well beyond what many people probably imagined this past five plus years.