Twitter Acquires Periscope

Posted: Mar 10 2015, 6:01am CDT | by , in News | Technology News


Twitter acquires Periscope

They acquired Periscope just a month ago which is a video startup. Twitter are yet to launch their new purchase.

They acquired the start-up just a month ago. Periscope helped users with streaming video from their phones. Business Insider was confirmed that a deal was in place which saw Twitter buying Periscope.

BI reports that the Periscope owners sold the company for $50 million whereas some believe the fee will be between $75 million and $100 million. The app only earned the company a couple of millions in the beginning.

So all in all we can say that the owners and the investors walked away happy from this project. Beykpour and Bernstein co-founded Periscope and now they will sell it to Twitter for a huge fee. Both of them made Terriblyclever which they also ended up selling to Blackboard.

TechCrunch believed that Periscope owners were going to get $100 million whereas some believe that is not the case. They believe that the fee is just a fraction of what people are predicting. Twitter is still working on the app and its public release date is still unknown.

Twitter is having doubts about officially announcing the deal. This may be because a new app called Meerkat has launched and it is going viral. Meerkat lets users live stream videos and then other people can watch the videos with the help of the link you share.

YouNow is also another streaming service and it acquired many investors due to why it is skyrocketing. Periscope isn’t the first start-up bought by them as multiple sources were saying that the company was interested in buying Periscope. Twitter bought Vine and it only had to pay $10m for the application. 

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M. Affan covers the hottest news that captivate the web today.




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