Twitter said today it had purchased the maker of the video streaming app Periscope, amid what seems to be surging interest in live video sharing. “Excited to officially welcome @periscopeco to the Twitter team. Can’t wait for everyone to see what they’ve built!” tweeted Twitter product vice president Kevin Weil. Also Read - Explained: Can Twitter get banned in India?
You may have heard some news: It involves a blue bird. #YouCanGuessTheRest #WeJoinedTheFlockInJanuary #AreWeUsingThisRight #IsThisThingOn Also Read - Twitter vs government: Twitter India loses legal protection for not complying with IT rules on timeAlso Read - Twitter friends/followers seeking your unwanted attention could be Unmentioned
Periscope (@periscopeco) March 13, 2015
Twitter did not release details about the deal, but media reports said Twitter was paying between $50 million and $100 million for the app, which is still in the testing phase and has only been available by invitation.
The news comes amid growing interest in live video sharing, and a rush of users to rival streaming app Meerkat, described “a sensation on Twitter.” In addition to acquiring Periscope, Twitter has also limited Meerkat by withdrawing access to their social graph. It’s not clear if Twitter would maintain Periscope as an independent app or integrate it into the messaging platform. Twitter declined to comment on its plans.
Periscope, based in San Francisco, also confirmed the purchase after several days of news reports on the subject, indicating the deal dated back to January.