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ExactTarget sells for eye-popping $2.5 billion

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Newsmakers
2013 NEWSMAKER: Scott Dorsey 2013 NEWSMAKER: Andrew Luck 2013 Newsmakers: Tony Bennett
                              &<br />Glenda Ritz 2013 NEWSMAKER: Mitch Daniels 2013 NEWSMAKER: Joe Swedish
yir-exacttarget-1col.jpg ExactTarget didn't stay public for long, attracting a huge buyout in 2013. (IBJ file photo)

ExactTarget Inc. sold for more than $2.5 billion after a bidding war among some of Silicon Valley’s biggest players.

Salesforce.com, the cloud-computing software giant based in San Francisco, beat out at least three other undisclosed suitors in June by offering a hefty 53-percent premium on ExactTarget’s publicly traded shares, barely a year after the Indianapolis digital marketer’s stock market debut.

The deal capped one of the city’s favorite success stories, which began in 2000, when brothers-in-law Scott Dorsey and Chris Baggott teamed with Peter McCormick.

The trio started selling email-marketing software out of a Greenfield business park. The firm, now headquartered in downtown Indianapolis, broadened its products to other digital marketing services over the years and acquired several smaller businesses. By the time Salesforce closed the ExactTarget deal in July, the company had grown to 1,800 employees worldwide, with more than 1,000 people working locally.

The multi-billion-dollar deal, combined with generous benefits that gave stock options to all employees, has local tech leaders predicting an entrepreneurial flurry over the next several years.

Executives have tried to assuage some concerns about ExactTarget’s future in Indianapolis, publicly saying Salesforce intends to invest in its new subsidiary. The company lists 47 local job openings, and it recently leased an additional two floors in the Century Building, one of its downtown outposts.

Salesforce spent the latter half of the year trumpeting its purchase. That included placing Dorsey and his executive team in charge of Salesforce’s entire marketing cloud, one of the company’s four main divisions. In a gesture of its confidence, Salesforce named the business unit the ExactTarget Marketing Cloud.
 

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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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