Crowdcast: Growth Or Exit

Crowdcast is a social business intelligence solution that taps into the wisdom of their employees and partners to deliver insights and forecasts related to current and future projects and initiatives in order to make better strategic leadership decisions. Despite being well positioned in the emerging crowdsourcing space, Crowdcast was experiencing slow market adaptation for its break-through product. The company was looking to accelerate growth through and broader distribution network. We worked with Crowdcast to identify and evaluate its strategic options and align stakeholder buy-in. We advised through its sales process, assisting with identifying and validating targeted strategic buyers, and prospect investors. Crowdcast sold the company to Spigit, a provider of collaborative innovation management software for enterprises. The deal was successfully completed and Crowdcast empowered Spigit to drive towards its 2012 revenue plan of $30M in revenue and $50M in bookings, which was a 3x year-over-year revenue growth for Spigit.