Saturday, April 28, 2012

Demand Force Acquired by Intuit for $423 Million

Demand Force Logo.png
Well, this may shake things up a bit in the world of dental communications!
On Friday afternoon I got a text message from someone "in the know" who wished to remain anonymous telling me that patient communication powerhouse Demand Force had been acquired by Intui for $423 million.
Demand Force is a company that allows dentists to stay in constant contact with their customers.  This is done through emails, text messages, surveys, etc.  This type of communication in dentistry has really exploded in the last 5 years and, in my opinion, will only continue to do so.
What follows is, first, a description of Demand Force from their website, then the press release providing info on the acquisition by Intuit.
First the Demand Force corporate description:

Founded in 2003 by Rick Berry, who was soon joined by Sam Osman, Demandforce’s mission is to help small businesses thrive in an evolving and increasingly complex connected world.

Demandforce bundles the marketing and communications tools that any business needs to succeed with customers today into one powerful web-based application that seamlessly integrates with existing workflow systems, works automatically, and delivers guaranteed results. We provide small local businesses--like salons, auto shops, chiropractors, dentists, and veterinarians--with affordable and easy access to the tools and platforms that large enterprises use to communicate with customers, build a strong online reputation and leverage network marketing.

Our goals are to deliver overwhelming value to our customers, partners and employees by focusing on the needs of small businesses, building transformative solutions, and always doing the right thing. We are proud of our work, because we know that small business is the lifeblood of any economy and we play a part in creating sustainable growth for the people and communities that use our product.

Today we serve more than 35,000 small business users in the US and Canada, and our product has been instrumental in generating more that $1 Billion in incremental revenue for our customers. We are growing fast, continuously adding new industries, territories and product features so we can bring Demandforce to even more small businesses that need it. Based south of Market San Francisco, we are more than 300 people totally focused on building one of Silicon Valley’s next great software companies.



Now the info on the acquisition:

Intuit and Demandforce; A natural fit

Today we announced our intent to acquire Demandforce, a SaaS leader that provides tools to help small businesses engage, attract and retain customers. Demandforce’s SaaS application is used by thousands of small businesses to automate marketing and customer communications, build and maintain an online reputation and raise their profile with local consumers.
Demandforce will increase Intuit’s SaaS offerings for SMBs. Their email, mobile and social tools, such as online reviews, help SMBs better communicate with their customers and drive higher retention and growth in their businesses. The company is strong, with traction in industries like dental, automotive, spas and salons, optometry and chiropractors; all with considerable opportunity for growth and with room to expand into new verticals.
“Demandforce has a passion for customers, high Net Promoter Scores and strong customer retention,” said Kiran Patel, executive vice president and general manager of Intuit’s Small Business Group. “I’m thrilled to be adding a new business to Intuit’s small business group, especially one with such a strong leadership team, customer-centric mindset and high energy culture. All of this makes Demandforce is a natural fit with Intuit.”
Once the transaction closes, Demandforce will continue to be led by Rick Berry, Demandforce president and founder. Demandforce will be run by the same leadership team that built the company. The team will continue their commitment to delivering overwhelming value to customers.
“We’re so proud of our contributions to small businesses growth,” Berry said. “Joining forces with Intuit will help us to achieve our goal of reaching more small businesses while continuing to provide our customers with more innovation, more connection, and more success.”
Here at Intuit, we are looking forward to welcoming the Demandforce team once the transaction closes sometime in May.


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