Twitter Inc. has announced that it has acquired San-Francisco-based video-editing start-up SnappyTV to continue broadening its push into video. The financial details and terms are still undisclosed.
Post acquisition, both companies will work together to inject the best video content into Twitter’s real-time conversation and also plan to maintain high-quality videos to other platforms.
SnappyTV was founded in 2010 by CEO Mike Folgner, CTO Ryan Cunningham, and Creative Director Stephen Weibel. It aims to help publishers quickly share great moments from events so people can experience those moments as they happen. The company had secured a total funding of USD 759.3K. It was backed by 3 investors and including products like LiveFans- Widgets Tools, LiveCapture- Cloud DVR and LiveCut Editor.
Till date, Twitter had made 35 acquisitions including 6 deals which closed this year such as Namo India, Gnip, Cover Lockscreen, Mesagraph and Secondsync. It is consisting of 102 members in its team and having total capital of USD 1.2 billion.
NDTV Gadgets says: “SnappyTV’s platform for live clipping, editing, and distribution is already widely used by brands and our media partners to share video clips on Twitter, both organically and via Twitter Amplify,” said Twitter’s Baljeet Singh in a blog post.
“Twitter users have watched goals, slam-dunks, amazing shots, and touchdowns – as well as red-carpet moments, award show performances, news clips and funny moments – right from a tweet in their timeline.”
Singh said Twitter would integrate SnappyTV more tightly with the social network
“Our goal is to help publishers quickly share great moments from events so people can experience those moments as they happen.”
Twitter has been under pressure to show it can boost its user base to justify the high valuation after its highly anticipated share offering last year.
TechCrunch says: The team behind the four-year old startup talks about how it has worked with Twitter Amplify as well as through organic growth to deliver clips of live and breaking events to Twitter streams. The company says it will continue to maintain and build its platform under the Twitter umbrella, and says with Twitter’s resources it’ll be able to grow and better its product offerings.
For Twitter, this is about extending the toolset it can offer to live content producers, who often turn to the network as the social webbing that can unify and amplify a dispersed audience. Twitter’s Deb Roy is Twitter’s Chief Media Scientist, and at a conference in London last year he discussed the strategy behind Twitter’s partnerships with live broadcast partners, and SnappyTV fits right in with those plans.
More from company Blog Post: “As we continue to invest in video, it’s important for us to provide tools that make it easy for TV broadcasters, businesses, and event producers to share high-quality videos,” Baljeet Singh, Twitter’s director of product management.
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