Twitter has acquired SnappyTV the cloud-based video platform that enables fast and easy editing and sharing of clips from live TV broadcasts.
San Francisco-based Snappy TV currently works with a number of high profile media outlets like Fox Sports and ABC News to bring video content to its site. The deal is designed to strengthen Twitter’s relationships with SnappyTV’s existing partners to increase video content and ad revenue on the social network.
Twitter’s Baljeet Signh says of the deal, “Our goal is to help publishers quickly share great moments from events so people can experience those moments as they happen.”
This falls on the heels of disappointing data on Twitter’s user-base growth which fell short of projections yet the company exceeded Wall Street forecasts when it reported Q1 earnings of $250 million in April. Twitter is expected to continue to seek out ways of developing relationships with brands to expand its ad platform and increase revenue.