Buy out companies have not been as quick to establish a presence on social networking websites like Twitter and Facebook. That may be changing because today Blackstone Group, the financial services company that specializes in mergers and acquisitions, announced it has established its official presence on Twitter and posted its first ever tweet.
A source familiar with Blackstone Group said the company has not yet established a presence on Facebook or YouTube, but is studying how it may best use these social media outlets. Buyout companies have been less interested than venture firms in using social networking website like Twitter and Facebook, in part because it could cause unintended information leaks, and certainly more public scrutiny.
However, buy out companies have started to see value in using social networking websites as their popularity has increased, and especially as Facebook’s popularity has soared. A source familiar with Blackstone said it created its Twitter account so it could provide news to people who don’t receive, or don’t read its press releases.
Graham Hearn’s said “At the end of the day social media is one more way to connect and stay connected with your core audience, whether it’s job seekers or vendors or deal brokers,” Hearn, who owns a buyout shop that uses Twitter and other social networking sites, said “It doesn’t replace traditional methods but it’s another way to keep in touch.”