Twitter acquires Periscope (live video streaming)
Companies in Relationship
Initial Announcement Date:
Consideration: Less than $100 million in cash and stock, but skewed towards cash (Source: WSJ)
Twitter acquires Periscope, which allows users to upload live video wherever they are and broadcast it to allow their followers to watch.
The acquisition reflects Twitter’s move to bolster its video capabilities. In the past year it has started testing video ads and launched the ability for users to upload and edit their own videos. The company is also still building out Vine, the six-second, video-looping service it purchased in 2012. Adding the ability to stream live video on Twitter capitalizes on the company’s strengths as a real-time broadcast service.
The acquisition complicates things for Meerkat, another app which allows Twitter users to display live video from their phones. Meerkat attracted 60,000 users in the eight days after its launch.
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