Cisco to Acquire Socio: Enhancing Webex with Hybrid Event Capabilities

Cisco to Acquire Socio, Expanding Webex Event Capabilities

This morning, Cisco revealed its intention to acquire Socio, a startup headquartered in Indianapolis specializing in the planning of hybrid events – those combining in-person and virtual components.

The financial details of the acquisition were not disclosed by either company.

Strengthening Webex as a Comprehensive Event Platform

Socio’s technology fills a crucial gap in Cisco’s offerings, designed to be integrated into the Webex platform. This move follows the recent acquisition of Slido, and signals a broader strategy.

The aim is to evolve Webex beyond its core function as a video conferencing application, transforming it into a complete solution for managing events of all sizes.

Cisco’s Statement on the Acquisition

According to a company statement, the acquisition of Socio Labs is a natural complement to the Slido purchase.

Together, these technologies will deliver a comprehensive, user-friendly, and cost-effective event management solution, aligning with Cisco Webex’s vision for inclusive and engaging experiences.

The Rise of Hybrid Events

Cisco recognized the significant impact of the pandemic and anticipates that the integration of virtual experiences will remain vital even as in-person events resume.

Combining physical attendance with virtual access broadens event reach, extending participation beyond geographical limitations – a trend expected to endure post-COVID.

Expanding Webex Use Cases

Jeetu Patel, Senior Vice President and General Manager for security and collaboration at Cisco, emphasized the future of work as inherently hybrid.

This acquisition is strategically positioned to broaden the application of the Webex platform, encompassing both routine meetings and large-scale events.

Facilitating Inclusive Engagement

Patel explained that Cisco’s goal is to eliminate obstacles and foster inclusive interaction, regardless of event format.

Slido empowers every participant to contribute, even without speaking, while Socio enables broader audience engagement.

A Powerful Technology Combination

Cisco believes Webex provides the ideal foundation for these technologies to thrive.

The combination is expected to significantly enhance human interaction, making conversations more engaging across all types of events.

Industry Analyst Perspective

Brent Leary, founder and principal analyst at CRM Essentials, views the acquisition as a shrewd move to capitalize on the evolving events landscape.

He believes this strengthens Cisco’s position as a key player in the event technology sector.

The Future of Event Management

Leary predicts an accelerated demand for hybrid event experiences as people return to in-person gatherings.

An event management system that seamlessly integrates local participation with a broader virtual audience will be essential for success.

Socio’s Background and Clientele

Founded in 2016, Socio has secured approximately $7 million in funding, as reported by Crunchbase.

The company boasts an impressive client roster, including prominent organizations such as Microsoft, Google, Jet Blue, Greenpeace, PepsiCo, and Hyundai.