Twitter is one of the most popular social media platforms today. The platform is used for social interaction and for businesses as well. You must have heard that Twitter has bought the search engine Summize. The company was bought for about $15 million. Summize has grown very fast. The search engine was processing more than 70,000 queries every week. Twitter will achieve new heights with this acquisition. Here are some of the things you should know about this acquisition.
Reasons for acquisition
Twitter was launched in 2006 giving people to share their thoughts through ‘tweets’. The Tweeter’s API was accessible and the developers were encouraged to use it. A number of companies were also formed because of the Twitter API. Summize had also incorporated Twitter’s API in their product. Summize crawls various blog discussions and online reviews to make summarized reviews of books, movies, etc.
People get to see the listings of most liked products, most watched YouTube videos, etc. All the public tweets were searchable. So, Summize became a real-time search engine. Tweeter realized the need to have a real-time search engine before. Though Twitter wanted to expand their efforts into the search engine area, Summize was better. They already established themselves as a real-time search engine. Twitter realized that search was an essential part of their product, so they decided to buy Summize instead of competing against it.
Along with the capability of real-time search option, the acquisition of Summize has brought in other added benefits too. Summize had features like trending topics, language translation, shortened URL previews, conversation threading, etc. These will now become Twitter’s core product. Another benefit is that Summize’s highly talented team will become a part of Twitter now.
With the acquisition of Summize Twitter has now created the real-time internet. Twitter has also developed a complete Tweet Index for every tweet it had. People never thought to create such a search engine as possible. But Summize has proved them wrong and Twitter has helped to take this vision forward by buying Summize. This acquisition has definitely improved the brand image of Twitter.
In the past, similar acquisitions took place in the technology industry. Apple bought NeXT, Facebook bought Instagram and more. Now Twitter has joined the pack. This acquisition is a big step towards innovation and shows that anything is possible. People are looking forward to some great new things from Twitter after the acquisition. Twitter is now a bigger company and we can expect great innovations from them.