Twitter acquires Periscope, soon to stream video in the timeline?

by bold-lichterman

Twitter users may soon be able to share what they’re filming live with their smartphone. The information went relatively unnoticed, but Twitter stepped up on video a few days ago. The American company bought the Periscope mobile video streaming app last month, according to Business Insider. Periscope hasn’t even launched yet, it’s in beta.

The transaction amount has not been confirmed but BI quotes experts talking about 50 to 100 million dollars. A Twitter spokesperson simply clarified that the company was not commenting on rumors. Twitter had already acquired Vine in October 2012.

Meerkat and YouNow already on the market

Periscope will provide a streaming live video on mobile, which could compete with Meerkat, launched at the end of February. The latter allows users to broadcast live what is happening around them and share the content via a link so that those around them can see the live video stream. Another app offering video streaming has skyrocketed in recent months: YouNow, funded by Venrock and Union Square Ventures, among others.

The two founders of the application acquired by Twitter, Keyvon Beykpour and Joe Bernstein, had previously jointly founded the application development start-up Terriblyclever, acquired by Blackboard, a US publisher of educational software. The official launch date for Periscope is not disclosed.