Twitter buys TweetDeck for $40 million

Twitter has agreed to acquire TweetDeck, a Twitter desktop client preferred by many of the social-media service’s most active users, for $40 million in cash and stock, according to a CNNreport.

Twitter has increasingly been designing its own applications, so a purchase of TweetDeck would give it access to existing expertise. Twitter founder Biz Stone has previously said the company will make acquisitions to help it to improve its revenues.TweetDeck,  is available on multiple platforms, including on the iPhone and iPad, as well as a Google Android and Chrome application and on the computer desktop.

Twitter image
Website: twitter.com
Location: San Francisco, California, United States
Founded: March 21, 2006
Funding: $360M

Twitter, founded by Jack Dorsey, Biz Stone, and Evan Williams in March 2006 (launched publicly in July 2006), is a social networking and micro-blogging… Learn More

TweetDeck image

Website: tweetdeck.com
Location: London, United Kingdom
Founded: July 4, 2008
Acquired: May 24, 2011 by Twitter
TweetDeck is an Adobe Air desktop application, currently in public beta, that looks to capture the abundance of social media and display it in a unique columned user interface. TweetDeck allows users to arrange themes in different columns, rather than having to search for them on Twitter.com. Twitter lets other sites to interact with it directly via an open application programming interface (API).
It is thought that TweetDeck users account for at least one in five of all Tweets.

One thought on “Twitter buys TweetDeck for $40 million

  1. A couple of thoughts come to mind: Maybe Twitter (the company) are hoping to make a substantial portion of their revenue and profits from tooling for Twitter – that they think people will buy. So the service is not necessarily what they hope to directly make money from.

    Second, if this is true then it explains why they’ve been the way they have about Twitter clients. I’m not sure this is such an “open” model. But then there never WAS an openness claim… We probably just assumed it was open or, more likely, didn’t care.

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