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James Martin/CNET
Twitter spent $86.6 million earlier this year to acquire live-streaming app Periscope and social media startup Niche, according to a regulatory filing Monday.
The micro-blogging company’s filing with the US Securities and Exchange commission did not itemize the selling price of each company, but it’s a safe bet that Periscope commanded the higher price tag. People familiar with the Niche acquisition told Recode in February that Twitter paid around $30 million for the social media startup.
Twitter declined a request to elaborate on Periscope’s purchase price.
Twitter announced in February it would acquire Niche, the small New York-based startup that connects social media stars with brands in order to create sponsored content. About a month later, Twitter announced it was acquiring Periscope, an app that lets users stream and edit live video.
Live video could become an important element for social networks, as people put more of their personal lives on the Internet. There are also potential revenue opportunities as marketers look to how they can advertise with individualized video feeds.
Periscope has been wildly popular for Twitter, logging 1 million users within its first 10 days after debuting in March. To solidify that popularity, Twitter also announced it was making tweaks that would limit the reach of Meerkat, a fast-growing mobile app that competes with Periscope.
The acquisitions are part of Twitter’s effort to boost user engagement, which it hopes will translate to an increase in its user base and revenue. The social network said last month has 302 million monthly active users, meeting analysts’ estimates, up from 288 million users at the end of the previous quarter. But the company’s revenue disappointed, and traders sent the stock down 18 percent.
[Via Recode]
