Apple buys social media company Topsy Labs
Apple has acquired a social media analytics company called Topsy Labs for a price rumored to be higher than $200 million. Topsy Labs is one of the few companies that has access to Twitter’s “firehose” of tweets. Topsy is able to search through Twitter’s index of around 425 billion tweets.
What will Apple do with Topsy? It is likely that Apple would use Topsy’s analytical software for iTunes. Topsy could use data from iTunes for curating content. It is also possible that Topsy may be used for improving Apple’s artificial intelligence search feature known as Siri. Topsy has the ability to identify the country of origin for 95% of tweets and city of origin for close to a quarter of all tweets, according to the WSJ.
Topsy was founded by Vipul Ved Prakash. Prakash used to work at Napster. He started Topsy in 2007 and raised $32 million prior to the acquisition.
[Source: WSJ]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry