Twitter’s stock has increased almost 30% in after-hours trading after Twitter Inc (NYSE:TWTR) reported its second quarter revenue increased 124% to $312 million from the same quarter a year ago. Wall Street was not expecting Twitter to report these solid numbers.
Twitter Inc (NYSE:TWTR) has announced that it has acquired CardSpring, which will enable the social media company to enhance “in-the-moment commerce experiences.” CardSpring is an app platform that enables developers to build card-linked coupons, loyalty cards, and virtual currency that works with credit cards. Twitter will keep CardSpring open as a wholly owned subsidiary.
Twitter has announced that it has acquired mobile advertising company TapCommerce. TapCommerce offers mobile ad buying for multiple exchanges and offers mobile retargeting of users. The value of the deal is believed to be worth around $100 million, according to Re/Code.
Twitter Inc (NYSE:TWTR) has launched a new advertising service that encourages users to install mobile apps. Twitter said that it is releasing mobile-app install ads to the wider ad communicate after running tests for several months.
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Twitter Inc (NYSE:TWTR) is facing a lawsuit from cellphone users who claim it is illegally spamming with text message ads from the social network. The $5 million lawsuit is regarding spam text messages. The complaint said that Twitter did not take sufficient steps to stop ending messages to recycled phone numbers. The dispute is based on “short code” technology, which lets companies send automated messages.
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Twitter is splitting the roles of departed COO Ali Rowghani between 2 executives, according to Re/Code. Adam Bain is in charge of revenue and partnerships and Gabriel Stricker oversees marketing and media.
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.