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With Fresh $53M, Lithium Aims To Tame Social Media
Lithium Technologies Chief Executive Rob Tarkoff dreams of taming social media for big brands. Now, thanks to a $53.4 million infusion from new investors New Enterprise Associates and SAP Ventures and half-dozen existing ones, Tarkoff has a gold-plated lasso to help him.
In an interview with Lizette Chapman of the Wall Street Journal, Rob said, "Today it (social media) is the Wild West but it shouldn’t be. I've got a lot of cash on hand now to build out (new) capabilities." Lithium will use the fresh cash to double headcount during the next year, expand beyond North America and Europe, pursue fresh verticals like digital agencies and continue improving the product.