Tuesday, January 23, 2018

Main Street Hub Acquired By GoDaddy For Up to $175M

Austin-based Main Street Hub, which operates an online, social networking management service for small businesses, has agreed to be acquired by GoDaddy, in a deal worth up to $175M, the two said on Tuesdday. According to GoDaddy, it will pay $125M in cash plus up to $50M in potential earnout for Main Street Hub, which employs a team of photographers, writers, designers, and marketers to help small businesses manage posts to Facebook, Instagram, Twitter, and Yelp. GoDaddy said it will continue to maintain Main Street Hub's offices in Austin, Texas. Main Street Hub co-CEOs and co-founders Matt Stuart and Andrew Allison will both join GoDaddy as part of the acquisition. GoDaddy is a provider of online website hosting and other cloud services, and is based in Scottsdale, Arizona. Main Street Hub was backed by Vista Equity Partners, and had raised around $65M in total funding.