Twitter Inc. TWTR +0.10% said Thursday it has reached a deal to buy SnappyTV, a service that helps edit and share video from television broadcasts, the companies said in statements on their websites. Terms of the transaction weren't disclosed. SnappyTV, which was founded four years ago, had already been working with Twitter and its media partners to share clips on the social network, while building Twitter data directly into its editing platform.
Twitter Acquires SnappyTV To Expand Offerings For Live Media
Twitter announced today that it is acquiring SnappyTV, the service for clipping, editing and sharing clips from live broadcasts in near real-time. Already, Twitter says that it works with SnappyTV with a range of its broadcast and media partners, and this will help it continue to invest in those partnerships and support that important client group. SnappyTV has helped Twitter provide video of key, highly shareable moments from huge sporting events, red carpet galas and other real-time global media events quickly and in the moment. The partnership makes this kind of content embeddable directly in Tweets, which is key to helping Twitter capture and amplify the moment on its network.
Twitter buys SnappyTV to beef up its arsenal of TV-focused ad tools
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.