The acquisition saga continues and this time it is Twitter. The micro blogging site has acquired Spindle, a location-based social discovery engine. Founded in 2010 by a group of ex-Microsoft engineers, Spindle informs users about what is happening with local businesses and organizations around them. The financial terms of the deal were not disclosed by either of the companies.
Twitter did not make any formal announcement on the buy beyond posting a tweet that read, “Spindle has been acquired by Twitter and joins the flock.”
Spindle’s technology was based on delivering social updates from businesses and other sources to users. The start-up launched an app last year to let smartphone users discover social media updates from nearby stores, restaurants, bars, or museums using their phone’s location technology.
“We have spent the past two and a half years building a product that helps you answer the question: ‘What’s happening nearby right now?’. Every time we have experimented and looked beyond local discovery, we have been amazed by the breadth and quality of content shared on Twitter. By joining forces with Twitter, we can do so much more to help you find interesting, timely, and useful information about what’s happening around you,” Spindle said in a blog post.
As part of the acquisition Spindle’s service will shut down and the team will relocate to Twitter’s office in San Francisco. Spindle could potentially give Twitter a way to help businesses better target ads and promotions to users on the social network. Also, incorporating Spindle’s technology into its own services could make Twitter’s platform more competitive with tools offered by its rivals such as Foursquare and Facebook’s Nearby, which helps users find nearby businesses on their mobile devices based on the activity of their friends.
Twitter which recently opened its analytic platform for all acquired a social TV analytic firm BlueFin Labs in February. The importance of location based services have increased in recent times and I believe they will soon emerge as a integral part of the internet and mobile ecosystem.
Image Courtesy | twitter