Updated: Several references to attribution and clarifications were corrected to confirm to a legal agreement between Stuzo and Dachis Group. No meaning has been drastically altered.
After its most profitable year yet, social media engagement company Stuzo spun out of parent company Dachis Group.
“We’re still the same company we were before,” Singer said. According to their agreement with Dachis Group, Singer can’t speak to former management, but the sentiment here is that Stuzo is positioning itself as jumping back to the management focus it had before being acquired. Read Stuzo’s blog post about the change here.
Center City-based Stuzo was acquired by Austin, Tex.-based Dachis Group in November 2010. Singer said the reason for the amicable split was a shift in priorities. It seems that Dachis Group is now focusing more on software and big data, while Stuzo is still focused on its own service: building consumer engagement campaigns for brands using Facebook. Singer declined to comment on any exchange of capital between the companies during the spinout.
The spinout doesn’t mean much in terms of tangible changes, spokesman Jed Singer told Technically Philly last week. Stuzo will remain in its offices at 13th and Race Streets, it’s retained all of its clients and its staff is still the same, though the company is growing. Stuzo has about 11-12 employees in its Center City office and is hiring six more people, Singer said. It employs about 25-30 people in its European offices.
Singer declined to provide revenue numbers but said that it was Stuzo’s most profitable year since its inception.
In 2013, Stuzo’s project included a Movember campaign for Gillette and a social voting campaign for the People’s Choice Awards that received 106 million votes, up from 56 million votes last year, Singer said. The company is now looking to develop platforms for businesses to use internally, through which employees could communicate to vendor and perform other tasks.
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