Twitter tipped in Periscope acquisition

Brittany A. Roston - Mar 9, 2015
Twitter tipped in Periscope acquisition

Twitter has acquired the startup Periscope, according to sources close to the matter. Periscope is behind an app that allows mobile users to stream video from their handset, and it points toward a push on Twitter’s part to enable a live-streaming function on its service. Twitter has not yet confirmed the deal, and there’s no word on how much, exactly, it paid for the startup, though leaks have it that the deal was finalized weeks ago and is, as of now, completely closed.

The information comes from Business Insider, which says it acquired the information from a source who is familiar with the proceedings. The acquisition of Periscope was itself confirmed, and one source states that the amount paid for the startup was “sizable”, to the tune of between $75 and $100 million.

Another source contradicted that, saying the figure was “small-ish”, but didn’t provide sums, meaning this might be an issue of perspective. However, it should be noted that past rumors of the companies being in talks pegged a deal around the higher end of the aforementioned figures.

Regardless of the figures, this could point to another service Twitter users will be gaining at some point. Periscope hasn’t yet launched to the public, and so how Twitter will go about doing that is likewise yet to be seen.

SOURCE: Business Insider

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