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ExactTarget reports record quarterly revenue

April 30, 2010

ExactTarget reported on Thursday that increased global sales and an acquisition helped the Indianapolis-based e-mail marketing firm bring in record quarterly revenue.

First-quarter revenue climbed 37 percent, to $29 million, compared to the same period in 2009. That marks the 37th consecutive quarter of growth, co-founder and CEO Scott Dorsey said in a prepared statement.

“Our continued quarter-on-quarter growth is a solid reflection of our unsurpassed ability to provide marketers the technologies and expertise they need to compete and win in an ever-changing interactive marketing landscape,” he said.

ExactTarget increased its revenue last quarter by growing sales outside of North America by 150 percent, by acquiring enterprise Twitter platform CoTweet in early March, and by signing new clients and retaining existing ones, the company said.

Founded in 2008, San Francisco-based CoTweet is a Web-based business that helps companies manage multiple Twitter accounts. The company’s clients include Whole Foods, McDonald's, Microsoft Corp. and Ford Motor Co.

Also in the first quarter, the ExactTarget established a “social media lab” in San Francisco to spearhead social media product development and hired more than 70 employees, bringing its total headcount to more than 600.
 

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