Twitter Inc (TWTR) acquires live video platform SnappyTV
Twitter Inc (NYSE:TWTR) has announced that it has acquired live video platform SnappyTV to enhance the Twitter Amplify program. Founded in 2010, SnappyTV is a cloud-based platform that allows users to edit and share clips from TV broadcasts. The SnappyTV platform is used by many brands. Some of Twitter’s media partners use Amplify to share video clips in real-time, which is a program that lets partners promote TV clips on the social media platform. The terms of the deal were undisclosed.
“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,” said Twitter said in a blog post. “To that end, we’ve agreed to acquire SnappyTV.”
Twitter acquired two other social TV startups in March, which establishes the company as a social TV service to boost engagement and attract more ad dollars for TV companies.
“With Twitter we will continue our commitment to maintaining an open platform for social broadcasting of live events, across a variety of digital platforms,” added the SnappyTV team in a blog post. “Joining Twitter will allow us to provide an even better product and bring the platform to more content owners and event organizers throughout the world.”
Stock Tag: Twitter Inc (NYSE:TWTR)