Jun. 4, 2014, 4:33 PM
- Along with its FQ4 results, Bazaarvoice (BV) announces it's selling its PowerReviews unit to reviews platform Viewpoints for $30M in cash.
- The deal is expected to close in FQ1, pending DOJ approval. Its price is a small fraction of the $168.2M Bazaarvoice originally paid for PowerReviews.
- Bazaarvoice announced in April it had signed a non-binding LOI with Viewpoints to sell PowerReviews, after the DOJ prevailed in an antitrust suit opposing Bazaarvoice's 2012 acquisition of the company.
- Revenue from continuing ops rose 11% Y/Y in FQ4. Adjusted EBITDA from continuing ops was -$7.6M vs. -$9.1M a year ago.
- BV -0.4% AH. FQ4 results, PR
Apr. 15, 2014, 1:13 PM
- FeedMagnet provides software tools that allow brands to aggregate, share, and personalize social media content (inc. photos and videos) involving them.
- Bazaarvoice (BV -2.7%) is buying the company for $9M in cash, and says the deal will complement its existing online/social media customer interaction tools.
- Last week, Bazaarvoice announced it has signed an LOI to sell its PowerReviews unit, which the DOJ has wanted the company to unload for some time.
Apr. 8, 2014, 4:14 PM
- Bazaarvoice (BV) has signed a "non-binding letter of intent" with consumer reviews platform Viewpoints to sell its PowerReviews unit. Proposed deal terms are undisclosed.
- The LOI follows a January court ruling backing a DOJ suit opposing Bazaarvoice's 2012 acquisition of PowerReviews on antitrust grounds. The company mentioned on its Q4 CC PowerReviews had "received significant interest from multiple parties."
- Bazaarvoice originally bought PowerReviews for $31M in cash, 6.4M shares, and the equivalent of 1.6M stock options. The deal was worth $168.2M at the time of its June 2012 closing.
Mar. 5, 2014, 1:00 PM
- With Bazaarvoice's (BV +16.9%) shares having closed yesterday near their 52-week low of $6.45, investors are paying more attention to the company's FQ3 beat than the light FQ4 guidance - revenue of $44.9M-$45.9M and EPS of -$0.12 to -$0.12 vs. a consensus of $46.3M and -$0.09 - it provided on its CC (transcript).
- Bazaarvoice ended FQ3 with 1,308 enterprise clients, up 19 Q/Q. Total customers rose to 3,300+ from 3,200+, and the company's deferred revenue balance grew to $55.7M from $53M.
- CEO Eugene Austin mentioned Bazaarvoice has "received significant interest from multiple parties" for its PowerReviews unit, following a January court ruling backing a DOJ suit opposing Bazaarvoice's 2012 acquisition of PowerReviews.
- Morgan Stanley (Equal-Weight) thinks the FQ3 results "showed some signs of improved execution." But it also notes "low-end attrition continues to weigh on net adds," and believes "distractions" related to PowerReviews are still an overhang.
Jan. 10, 2014, 9:13 AM
- A Northern California federal district court has ruled in favor of a DOJ suit (initially filed a year ago) opposing Bazaarvoice's (BV) acquisition of rival online review/social media engagement platform PowerReviews on antitrust grounds. (PR)
- Bazaarvoice says it won't decide whether to appeal until after "the Court concludes the remedy phase of the litigation." Remedy proceedings start on Jan. 22.
- Bazaarvoice closed its acquisition of PowerReviews in June 2012. The company paid $31M in cash and issued 8M shares/options.
Sep. 23, 2013, 1:44 PM
- Arguments in the DoJ's suit to undo BazaarVoice's (BV +0.7%) $168M acquisition of PowerReviews began today in the U.S. District Court of San Francisco.
- The Dept. alleges that the acquisition "substantially lessened competition in the market for product ratings and reviews platforms in the United States, resulting in higher prices and diminished innovation." It cites internal company documents before the purchase in which Bazaarvoice employees noted that PowerRatings was keeping prices down.
- BazaarVoice lawyers intend to demonstrate that prices for ratings services have not increased substantially since the acquisition. Another point of contention: the seeming lack of identification by the DoJ of a relevant market harmed by the combination.
- The trial is expected to last 2 weeks.
Jan. 10, 2013, 4:13 PMBazaarvoice (BV -16%) fell hard in afternoon trading on news the DOJ has filed an antitrust suit related to the company's completed acquisition of rival PowerReviews. Arguing the deal diminishes competition in the market for online product ratings/review platforms, the DOJ wants Bazaarvoice to divest assets in a way that will create a new competitor. | 1 Comment
Dec. 21, 2012, 9:42 AMEloqua (ELOQ -0.4%) has only a 10% chance of receiving a bid that tops Oracle's (ORCL) $23.50/share offer, says Pac Crest. Shares closed at $23.66 yesterday, but are down to $23.51 in early trading. The firm thinks Eloqua rival Responsys (MKTG), customer reviews/engagement platform Bazzarvoice (BV), and video hosting/distribution platform Brightcove (BCOV) could also be M&A targets. (Salesforce) | Comment!
Nov. 6, 2012, 11:08 AMBazaarvoice (BV -10.8%) tumbles after announcing: 1) CEO Brett Hurt, who has held the top job since '05, will be replaced by CFO Stephen Collins. Hurt will remains as vice-chairman. 2) It's acquiring Longboard Media, a provider of online ad management solutions for retailers, for $32M-$43M in cash and stock, depending on incentives. Longboard complements BV's existing media solutions. 3) Guiding for FY13 (ends in April) revenue of $156M-$158M, above a $155.7M consensus. (PowerReviews deal) | Comment!
Jun. 4, 2012, 2:47 PMOnline/social media marketing solutions providers ExactTarget (ET +6.8%) and Constant Contact (CTCT +4.1%) appear to be getting a lift from Salesforce.com's purchase of Buddy Media, as hopes grow of further consolidation in the space. Bazaarvoice (BV +0.2%), however, isn't joining in on the fun. | 1 Comment
Jun. 1, 2012, 12:33 PMOracle's (ORCL) purchase of Vitrue and Salesforce.com's (CRM) reportedly pending acquisition of Buddy Media are questionable moves given Madison Ave.'s long history of crushing upstarts trying to "disrupt" it, argues Jim Edwards. Also, there are still big question marks about the effectiveness of social media ads; Facebook could turn into a direct competitor; and Oracle and Salesforce's enterprise software focus could trip the companies up. Edwards' concerns are also relevant to BV and CTCT. | Comment!
May 29, 2012, 6:31 PMSalesforce.com (CRM) has agreed to acquire Buddy Media, a provider of social media marketing software/services, for more than $800M, Peter Kafka reports, while adding Salesforce beat out a Google (GOOG) offer in the process. The news comes six months after Salesforce rolled out its Social Marketing Cloud product, the result of its $326M acquisition of Radian6, and comes a week after Bazaarvoice (BV) and Oracle struck deals (I, II) to acquire companies in the space. | 1 Comment
May 24, 2012, 4:50 PMBazaarvoice (BV) is acquiring rival PowerReviews for $128M ($31M in cash and $97M in stock) up-front and 1.6M shares worth of options. PowerReviews provides customer review, Q&A, and social media engagement/analytics solutions for 1,100+ retailers. Along with the move, which follows Oracle's purchase of rival Vitrue, Bazaarvoice is guiding for FQ4 revenue of $31M-$31.5M, above a $28.3M consensus. With PowerReviews in tow, it expects FQ1 revenue of $32.5M-$33M and FY13 revenue of $137M-$139M. | Comment!
May 23, 2012, 9:20 AMA day after archrival SAP spent $4.3B on Ariba, Oracle (ORCL) is reportedly spending over $300M to buy Vitrue, developer of a cloud-based social media marketing platfrorm. Vitrue, which competes with Constant Contact (CTCT) and Bazaarvoice (BV), complements the cloud customer support solutions Oracle obtained through its purchase of RightNow. Of course, the effectiveness of social media marketing has become a hot-button subject lately. | Comment!
Apr. 27, 2012, 11:57 AMIntuit (INTU +0.4%) is acquiring Demandforce, a developer of cloud marketing software for SMBs, for $423.5M in cash. The deal might be the strongest example yet of Intuit's efforts to diversify beyond tax software - the company has already made a strong push into mobile shopping and payments. However, the cloud marketing space is getting crowded - CRM, CTCT, BV, and ORCL are also key players. | Comment!
Feb. 28, 2012, 6:10 PMVocus (VOCS) drops 5.2% AH after posting Q4 results and announcing it's acquiring iContact, a provider of e-mail and social media marketing software. Vocus will pay $91M in cash, $9M in common stock, and $79M in convertible preferred stock. Interest in social media marketing software is heating up, as evidenced by Bazaarvoice's (BV) IPO and recent products from CTCT and CRM. Will there be enough customer dollars to go around? | Comment!
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Bazaarvoice Inc is a network that connects brands & retailers to the authentic voices of people where they shop. Its technology platform collects & displays ratings & reviews, questions & answers & stories from consumers with visual commerce capabilities.
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