NEW YORK--(BUSINESS WIRE)--Tsai Ventures, the seed and early stage venture capital arm of Tsai Capital Corporation, today announced that its portfolio company, CrowdTangle, Inc., has been acquired by Facebook, Inc. (NASDAQ:FB).
CrowdTangle helps publishers identify stories, measure social media performance and identify influencers. It's used by newspapers, television stations, digital media outlets, investigative journalists, entertainment companies, sports teams and nonprofits all over the world. Hundreds of newsrooms and thousands of journalists use the tool every day.
Brandon Silverman, founder and CEO of CrowdTangle said, “We think Facebook is the single most powerful platform in the world in connecting people to each other and to stories they care about. And at a time when there is a revolution taking place in how people connect with the world, our team is passionate about building tools that help publishers get the data and insights they need to succeed. Being able to continue our work but with the full support and resources of Facebook is a dream come true.”
Justin D. Soffer of Tsai Ventures added, “During our first product demonstration we recognized that CrowdTangle was an important tool that had the potential to become valuable and indispensable to many businesses. And that’s exactly what happened. We are thrilled for the company to join Facebook and wish the CrowdTangle team much success at their new home.”
Tsai Ventures exclusively deploys the proprietary capital of Tsai Capital Corporation and is not currently accepting external capital.
About Tsai Ventures
Tsai Ventures is the seed and early stage venture capital arm of Tsai Capital Corporation. We look for hungry entrepreneurs with disruptive ideas and a big market opportunity. Our focus is on markets we know well: finance, media and travel. And we leverage our network to build relationships for our partners. To learn more about Tsai Ventures, visit: www.tsaiventures.com.
About Tsai Capital Corporation
Tsai Capital Corporation is a global equity manager headquartered in New York City. Through original, in-depth research that digs deep into a company’s operations, Tsai Capital seeks long-term investments in businesses the firm believes are high-quality, growth companies that offer significant upside potential and a margin of safety at the time of purchase. The company was founded in 1997 by Christopher Tsai, President and Chief Investment Officer. Additional information about Tsai Capital is available at www.tsaicapital.com.