But losses mount for the home furnishings e-retailer that went public in October.
Its acquisition of SnappyTV will make it easier for retailers and brands to incorporate TV clips into their Twitter ads. The deal marks another step in Twitter’s evolution from a text-based social network to one in which images and video are plentiful.
Twitter Inc. has acquired cloud-based live video platform SnappyTV, which lets users edit and share video clips from TV.
The social network says the acquisition, which it announced late yesterday, will improve its Amplify program, which allows advertisers to embed ads into real-time video content. Terms of the deal were not disclosed.
Marketers and broadcasters already use the platform to share video clips on Twitter—both via regular posts and Twitter Amplify—as well as on other social networks. Twitter says it will continue to let brands and consumers use SnappyTV to post videos to other social networks.
“Our goal is to help publishers quickly share great moments from events so people can experience those moments as they happen,” Baljeet Singh, Twitter’s director, product management, writes in a blog post.
Twitter will provide resources to improve SnappyTV’s platform, SnappyTV writes 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. We will be able to further our goal of empowering people to share the world’s best moments.”
The acquisition continues Twitter’s transition from a largely text-based platform to one featuring more visual content. For example, in April it launched a Facebook-style redesign of its profile pages and earlier this week it began allowing users to share animated GIFs, which are popular on Tumblr and other social networks. The addition of more video and imagery appears aimed at broadening Twitter’s user base; Twitter had 255 million monthly active users at the end of the first quarter, only slightly ahead of the fast-growing Instagram.