Meltwater, the Norwegian news source monitoring firm, believes it can build a $100m business monitoring the buzz on social media networks, its CEO and founder Jorn Lyseggen said recently.
"We are the number one player in online news monitoring and we believe we can become number one in social media," said Lyseggen. "Our objective is to do the same for social media as we have done in online news and build a $100 million business in the next three years."
The firm's social media monitoring offering, Meltwater Buzz, is claimed to offer comprehensive tracking and analysis of user-generated content on the web. It enables users to monitor more than 200 million blogs, micro-blogs, social networks, forums, video and photo websites, product reviews and other social media sites to gain a better understanding of end-user sentiment on hot topics, new products, companies and the competition.