Boston, MA 08/12/2014 (wallstreetpr) – Twitter Inc (NYSE:TWTR) recently announced that it shell out $134.1 million for buying Gnip Inc., the social data provider firm, in the month of May 2014. The transaction included $107.3 million in cash, along with rest of the amount paid in stock. The details of transaction were revealed in the regulatory filing on August 11, 2014.
Twitter’s information Control
The acquisition allowed Twitter Inc (NYSE:TWTR) in seeking more control over the information which gleans from content that flows and moves across the network. In the meanwhile, it seems like the fight of tycoons, where Apple Inc. (NASDAQ:AAPL) took over Topsy in a deal worth more than $200 million in December 2013. Topsy is the staunch competitor of Gnip.
Twitter’s hint for entering e-commerce
In its regulatory filing, Twitter said that it might also become liable for risks which are associated with processing and credit. This hinted towards the notion of the company’s interest towards entering e-commerce and becoming the centre of it. It must be noted that Twitter has been generating its strategy towards this possibility. Also, it has agreed recently to acquire CardSpring Inc.
Also, in a separate development, Twitter Inc (NYSE:TWTR) made revisions and amendments in the data for some of the users who access micro-blogging service through third-party apps and hence do not see the advertisements. According to Twitter, 11% of its active users use this service through outside or third-party apps in recent quarter.
Statement from twitter Spokesman
The spokesman for Twitter, Jim Prosser, while referring to aforementioned data revisions said that, earlier Twitter Inc (NYSE:TWTR) reported around 14% of the active users to make use of applications having ability to contact the company’s servers automatically for time to time updates. However, he added, later it was discovered that this number also encompassed those users who made use of the social networking site through operated or owned applications.
