Hootsuite was founded in 2008 by Dario Meli, David Tedman, and Ryan Holmes. While rumors of an IPO have long surrounded the company, Hootsuite remains private. In 2020, CEO Tom Keiser said "It’ll become clear if there is a trajectory to an IPO or if there is another path. But we’re in no rush." These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Hootsuite is a provider of social media management solutions to help companies optimize their social media presence. Hootsuite has acquired 14 companies, most of them in the social media and AI sectors. The Vancouver-based company has raised $250 million in venture capital funding from investors including Fidelity Ventures, Accel Partners, Insight Venture Partners, OMERS Ventures, Silicon Valley Bank, Cloud Apps Capital Partners, and Difference Capital Financial. Hootsuite has not disclosed valuation information, but The Globe and Mail reported in 2019 that the company had struggled to achieve a valuation of more than $700 million.