Technology

Twitter acquires social media analytics firm Hotspots

MUMBAI: Flushed with funds from Saudi prince Abdul Aziz Al Saud, Microblogging site Twitter is on a buying spree. The company has made its third successful acquisition this year as it bought out social media analytics company Hotspots.io.


The financial details of the deal were not revealed.


The company had last month acquired mobile blogging start-up Posterous, while Internet security firm Dasient was bought in January.


Hotspots said its employees have joined Twitter‘s revenue engineering team effective 16 April and the focus will be on developing analytics tools for Twitter‘s advertising and publishing partners.


"We founded Hotspots.io with the vision of helping companies and individuals maximize their social media ROI through actionable and accessible analytics, and we‘re thrilled to be able to continue that work on a much larger scale at Twitter," the company said in a statement.


In December last year, Abdul Aziz Al Saud had invested $300 million in Twitter through his investment firm Kingdom Holding Company (KHC) valuing the company at $8.4 billion at the time.


The San Francisco based company with over 140 million users had an estimated revenue of $140 million in 2010.

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