Yes, said ChannelAdvisor CEO Scot Wingo this morning in his keynote address at the annual ChannelAdvisor Catalyst conference in Las Vegas.
Twitter buys a data mining startup
Lucky Sort helps users find patterns in live data streams.
Twitter has bought Lucky Sort. The Portland, OR-based startup helps users find patterns in live, large data streams like those on Twitter. The move appears aimed at bolstering the social network’s advertising revenue.
Lucky Sort released its first product, called TopicWatch, last year. It enables users to dig through social media posts, news stories and government filings to find, summarize and analyze text-based content around a particular topic—for instance, “big data.”
There are multiple ways users can use those capabilities. For instance, last year Lucky Sort worked with StockTwits, a social network where traders share stock-related information, to enable users to examine how traders’ posts about a particular stock correlated with that company’s share price.
Twitter declined to comment on its plans for Lucky Sort. However, the startup’s CEO Noah Pepper hinted at the microblogging platform’s objectives in a blog post announcing the acquisition. “Several of us will be moving to San Francisco to join Twitter’s revenue engineering department, so if you’re in the neighborhood and want to talk about text mining or data visualization give us a shout,” he wrote.
Twitter’s revenue engineering department oversees the platform’s ad sales and reporting. Twitter has spent more than a year beefing up that division via acquisitions as it focuses on rolling out new tools and products aimed at increasing ad spending on its platform.
Lucky Sort says it will help users transition off its system before Twitter shutters its products.
Neither company shared the deal’s terms.