Remember when Twitter (or Twttr) was just a way to send SMS messages? The platform has come a long way since then, and things aren’t slowing down anytime soon. Whether you’re busy watching your World Cup highlights or live-tweeting alongside the games, Twitter is winning in social TV.
The social media giant announced its acquisition of SnappyTV, a cloud-based live video editing platform, last week. Founded in 2010, SnappyTV gives content producers the ability to edit, share and post live video programming directly in the cloud. Twitter is just making one more move toward strengthening their mobile social TV presence, and hopefully bringing in more advertising dollars from broadcasters and media companies. By bringing SnappyTV in-house, Twitter is boosting its portfolio of ad products and giving content producers a smoother integration so they can churn out more videos, quickly.
“As we continue to invest in video, it’s important for us to provide tools that make it easy for TV broadcasters, businesses, and event producers to share high-quality videos. To that end, we’ve agreed to acquire SnappyTV,” said Baljeet Singh, Director of Product Development on the blog post.
By combining the power of social and real-time media, this will probably have the most impact with sporting events. Already boosted with popular hashtags and a rabid fanbase, the ability to edit and publish video even more quickly could be very powerful. SnappyTV already comes in with customers like Pac-12, Fox Broadcasting, NCAA March Madness, NASCAR and the U.S. Open.
SnappyTV was founded in 2010, and has raised just less than $800K to date with fewer than 50 employees currently. The terms of the deal were undisclosed, but it’s safe to assume they are pretty happy right now.