05 Feb Middleton-based Sway acquired for $30 million
Madison, Wis. – Sway, Inc., a Middleton-based social media marketing company, will remain in the Madison area after being acquired for $30 million by Cornerworld, a hybrid social networking/e-commerce company.
The synergies between the two companies boil down to their social networking functions.
Cornerworld, based in Dallas, provides a platform for artists and comedians to sell their content and maintain a social network of their fans and followers. It offers video chat, blogging, and a revenue-share for content sold through its e-commerce technology.
Sway, a privately held company established in 2005, offers to clients a platform for administering marketing campaigns across social media and web 2.0 platforms such as pod casts, video syndication, and mobile phone text messaging.
The company is best known for its flagship Web tool product, Shoutlet. The product has helped Sway land clients like eBay, Sara Lee, and Remington, and could enable wider distribution for clients of Cornerworld.
Sway, which reports $2 million in annual revenue and now employs 13 people, expects to expand its Middleton operations.