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Sprout Social, Inc. (NASDAQ: SPT) is a global leader in social media management and analytics software. The company offers a cloud-based platform that unifies social messaging, data, and workflows into a single system of record, intelligence, and action. This allows brands to find, form, and deepen connections with their social audiences.
Sprout Social generates the majority of its revenue from software subscriptions, serving over 30,000 brands worldwide. Their intuitive platform provides comprehensive publishing and engagement functionality, customer care, influencer marketing, advocacy, and AI-powered business intelligence. Sprout’s software is compatible with all major social media networks and digital platforms.
One of the company's notable achievements is the creation of The Arboretum, a community platform that fosters industry connection and mentorship. Recently, Sprout Social introduced a mentorship program within The Arboretum, which has quickly grown to over 10,000 members. This initiative supports marketing and social media professionals by providing opportunities to expand their professional brands, optimize Sprout’s platform, and stay competitive in a fast-paced industry.
Sprout Social has received significant recognition, including being named the #1 Best Software Product by G2's 2024 Best Software Award. The company's recent launch of enhanced AI and automation features aims to improve social strategies and deepen customer connections, addressing challenges in content creation, reporting, and social care.
Financially, Sprout Social is focused on achieving durable, efficient growth. With a recent leadership transition appointing Ryan Barretto as the new CEO, the company aims to scale its business to $1 billion and beyond. This strategic leadership change is expected to drive future growth and innovation.
Sprout Social continues to leverage its social media profiles and investor relations website to communicate material information to investors and the marketplace. For the latest updates, visit sproutsocial.com.
Sprout Social has announced a groundbreaking integration with Glassdoor, allowing users to access and respond to employee reviews directly from Sprout's platform. This integration enhances employer brand management by streamlining review monitoring and response processes, crucial for attracting and retaining talent. By merging traditional social media interactions with employee feedback, Sprout aims to cultivate a holistic brand strategy. This innovative step positions Sprout as a leader in combining corporate and employer branding, enabling a cohesive approach to brand perception.
Sprout Social announced new integrations with Microsoft Dynamics 365, HubSpot, and Zendesk, enhancing internal collaboration for customer service teams. These integrations allow social and support teams to work seamlessly with sales, improving efficiency in managing customer interactions. According to Andrew Caravella, VP of Global Partnerships, these integrations combat departmental silos, enabling brands to leverage rich customer engagements. Sprout Social supports over 20,000 brands globally, providing comprehensive social media solutions.
Sprout Social (Nasdaq: SPT) announced it will release its third-quarter financial results for the period ending September 30, 2020, on November 9, 2020, after market close. A conference call to discuss these results will be held at 4:00 p.m. CT. The call can be accessed via phone or through a live webcast. Sprout Social, a leader in cloud-based social media management software, serves over 24,000 brands and agencies, providing analytics, management, and customer care solutions across major social networks.
Sprout Social (Nasdaq: SPT) has successfully closed its follow-on public offering of 6,900,000 shares of Class A common stock at a price of $27.50 per share, which includes the full exercise of the underwriters’ option for 900,000 additional shares. The company sold 1,612,500 shares, while selling stockholders offered 5,287,500 shares. Importantly, Sprout Social did not receive proceeds from the selling stockholders. Leading managers included Morgan Stanley and Goldman Sachs, among others.
Sprout Social's recent survey reveals shifts in social media usage amid the pandemic. Key findings show that 62% of consumers increased social interaction for personal connections, while 48% seek entertainment. Additionally, 55% use social to stay informed on news, and 36% for educational purposes. A significant 58% of consumers prefer brands sharing their values, but missteps can lead to consequences, with 42% ready to switch brands if companies fail to meet social expectations. The survey, conducted from July 17-20, 2020, included 1,001 U.S. consumers.
Sprout Social (Nasdaq: SPT) announced a follow-on public offering of 6,000,000 shares of Class A common stock at $27.50 each. The offering includes 1,500,000 shares from the company and 4,500,000 from selling stockholders, with an additional 900,000 shares available to underwriters. The company will not receive proceeds from stockholder sales. Closing is anticipated around August 17, 2020. Leading managers include Morgan Stanley and Goldman Sachs. The offering is subject to standard closing conditions.
Sprout Social, Inc. (Nasdaq: SPT) announced a cancellation of its presentation at the Canaccord Genuity 40th Annual Growth Conference due to changes in management schedules linked to its follow-on public offering. CEO Justyn Howard, CFO Joe Del Preto, and SVP of Global Sales Ryan Barretto will present at the KeyBanc Capital Markets’ Future of Technology Series on August 18, 2020. A registration statement for the offering has been filed with the SEC but is not yet effective. A prospectus will be available through various financial institutions and online via the SEC's website.
Sprout Social (Nasdaq: SPT) announced a follow-on public offering of its Class A common stock. The offering aims to sell up to 1.5 million shares by the Company and 4.5 million shares by selling stockholders. Additionally, underwriters may purchase up to 900,000 extra shares within 30 days. The Company will not receive proceeds from the selling stockholders' shares. Morgan Stanley, Goldman Sachs, and Barclays are the lead managers for the offering. A registration statement has been filed with the SEC but is not yet effective.
Sprout Social, a leader in cloud-based social media management software, has announced two upcoming virtual investor conference presentations. CEO Justyn Howard, CFO Joe Del Preto, and SVP Ryan Barretto will present at the Canaccord Genuity 40th Annual Growth Conference on August 12, 2020, at 2:30 p.m. ET, and at KeyBanc Capital Markets’ Future of Technology Series on August 18, 2020, at 3:20 p.m. ET. Live webcasts of these presentations will be accessible on Sprout Social's investor relations website.
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