April 15, 2014
Twitter is buying social data partner Gnip to make its data more accessible to third-party companies and organizations.
The micro-blogging site is also likely to use Gnip’s data to attract more brands and companies and, in turn, reassure shareholders worried that Twitter has not done enough to boost revenue.
“As Twitter has grown into a platform that delivers more than 500 million Tweets per day, Gnip has played a crucial role in collecting and digesting our public data and delivering the most essential Tweets to partners,” Twitter said in a blog post.
“We believe Gnip has only begun to scratch the surface. Together we plan to offer more sophisticated data sets and better data enrichments, so that even more developers and businesses big and small around the world can drive innovation using the unique content that is shared on Twitter.”
Gnip CEO Chris Moody said the acquisition will enable his firm to collect data more quickly and deeply.
“We’ll be able to support a broader set of use cases across a diverse set of users including brands, universities, agencies, and developers big and small,” Moody said in a blog post. “Joining Twitter also provides us access to resources and infrastructure to scale to the next level and offer new products and solutions.”
Aside from Twitter, Gnip analyzes data from other social companies such as Facebook, Foursquare and Tumblr.
Neither company has said if such data collection will continue. Gnip did say, however it would deliver “new offerings with Twitter.”
Financial details of the deal were not divulged.