From CNET: Hootsuite isn't making money, but it's not going away anytime soon either.
The social media technology company said it has raised $60 million in financing, giving it more resources to fund its growth amid the continued frothy market for Internet companies.
The Vancouver-based company, which makes tools that help companies write, monitor and react to postings on various social networks, said it raised the money mostly from existing investors such as Accel Partners, as well as an asset manager in Boston, whom Hootsuite declined to name.
The move helps fill Hootsuite's coffers and support expansion as more companies are using social media. Facebook in August capped a tour around the country in which it tried to educate small and medium-size businesses on the benefits of using its network. Facebook is also preparing to launch new advertising service based on Atlas, a technology Facebook bought from Microsoft last year. Twitter, LinkedIn and Pinterest have also built up advertising efforts.
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