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Indiantelevision.com's Digital Edge

Twitter snaps up TweetDeck for $40 million

Indiantelevision.com Team

(25 May 2011 1:35 pm)

MUMBAI: Twitter has snapped up third-party app TweetDeck for $40 million, the latest in a series of big buyouts in the technology sector.

The deal with Twitter comes just a few months after TweetDeck was reportedly discussing a takeover by UberMedia for around $25 to 30 million. Twitter entered into the fray with a higher bid.

Twitter, founded in 2008 by Britisher Iain Dodsworth, seeks to control its ecosystem that has expanded exponentially through third-party clients such as TweetDeck. By taking control of TweetDeck, Twitter will have the ability to put ads in front of more users and hopefully become profitable.