Twitter Confirms Buy Of Summize Search Engine
This move has been talked about for a while now, but their has been no confirmation for sale. Well, I guess this is confirmation.
Twitter announced this deal yesterday on twitters blog but the real question as to how the company was paid for. Twitters blog did not touched on this question. Alleyinsider.com reports that the deal was landed for $15 million in stock and cash. Stock meaning stock in Twitter.
With this latest acquisition twitter is in line to possibly start making some substantial money. Search engines are turning a pretty profit as of late with advertisement and such.
That not to say that twitter would not be able to make money with twitter.com but I don’t think the current community would stand for ads on there tweets or tweeter pages.
Any rate this seems to be a great purchase for tweeter. The growth rate for this company has been extraordinary. According to the latest traffic stats provided by borthwick, summize grew from 0 to 14M queries a week in over the space of two months. Lets hope the twitter can keep the same track record and produce the same numbers in the same space.
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