Twitter has agreed to acquire video startup SnappyTV for an undisclosed amount, the company announced today.
SnappyTV’s tech lets you easily clip, edit, archive, and share live video clips and TV programming on Twitter and other social networks. It also tracks data and provides insights for promotional messages that run during live TV broadcasts.
The purchase makes sense for Twitter, which has spent the good part of the last two years building a strategy that includes generating revenue by partnering with TV networks to boost engagement on live TV programming.
More specifically, Twitter is attempting to prove to those TV networks — as well as to the advertisers that spend billions on TV commercials every year — that the social networks can give shows higher ratings. Higher ratings mean TV networks can charge more for advertising spots, and Twitter will get a fraction of that. Also, Twitter said many of its advertising clients and TV network partners already use SnappyTV in conjunction with the company’s Amplify ad platform.
“One of the best ways to follow events as they unfold is through real-time videos on Twitter,” said Twitter director of product management Baljeet Singh in a blog post about the acquisition. “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.”
Twitter said it will continue investing in SnappyTV and won’t stop its video clip sharing tools from being used on other social networks for now.
San Francisco, Calif.-based SnappyTV previously raised just over $700,000, not counting an undisclosed seed round.
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