Twitter Buys Social Data Provider Gnip

Twitter is trying to get its hands on more detailed data

Twitter has acquired Gnip, a social data provider that can offer the company some real-time insights into a series of social networks, including Facebook, Tumblr, Google+ and Twitter itself.

“Every day Twitter users share and discuss their interests and what’s happening in the world. These public Tweets can reveal a wide variety of insights — so much so that academic institutions, journalists, marketers, brands, politicians and developers regularly use aggregated Twitter data to spot trends, analyze sentiment, find breaking news, connect with customers and much more,” Twitter explains.

The company seeks to make its data more accessible and what better way to do this than work directly with its customers to help Twitter get a better understanding of their specific needs.

Which is why the company has acquired Gnip, which they characterize as a “leading provider of social data and a long-standing Twitter data partner.”

Considering just how many millions of Tweets the platform handles every day, Gnip will come in handy in collecting and going through all the public data and delivering the essential message over to the partnering companies.

“We believe Gnip has only begun to scratch the surface. Together we plan to offer more sophisticated data sets and better data enrichments, so that even more developers and businesses big and small around the world can drive innovation using the unique content that is shared on Twitter,” Twitter writes.

Gnip’s growing customer base will continue to get access to Twitter’s data. Furthermore, the platform will be expanded on even more with the help of Gnip’s team.

More information about the acquisition and what this means for both Twitter and Gnip will be shared at a later time. No financial details have been disclosed on the deal.

Chris Moody, Gnip’s CEO, also took to the company’s blog to express his happiness with the new changes, saying that he was pleased to announce the acquisition. He believes that by combining forces with Twitter, the company will be able to provide more in-depth data at a much faster rate. “We’ll be able to support a broader set of use cases across a diverse set of users including brands, universities, agencies, and developers big and small,” he said.

The good news for Gnip’s customers is that the service won’t be closing down, as many other companies do when they are acquired by bigger names. A good example is the slew of dead startups that Yahoo left behind after its shopping spree last year.

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