U.K. retail giant Tesco has acquired U.S. social-media marketing firm BzzAgent, the leading word-of-mouth marketing (WOM) company, for around $60 million, according to people familiar with the matter. The deal price, which includes an earn-out, underscores the growing interest among major retailers to buy into digitally derived advertising strategies.
BzzAgent, a Boston-based startup, specializes in creating word-of-mouth campaigns for big companies such as Unilever, L'Oreal and Michelin. The company enlists more than 800,000 people in the U.S. to try out certain products, which they can choose to write about to their Facebook friends or Twitter followers. The company does not pay any of its consumer volunteers, and they are not required to say anything about the products.
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