NEW YORK (TheStreet) --Twitter Inc. (TWTR) announced today that it agreed to purchased the live clipping, editing, and video distribution platform SnappyTV as a way to expand its video presence and continue to invest in products that will "make it easy for TV broadcasters, businesses, and event producers to share high quality videos," the company said.
Terms of the deal, including how much the social media company spent on SnappyTV were not disclosed, but Twitter said it has been working with SnappyTV in order to give users "the best video content" in real-time.
Snappy TV is a four-year-old startup that works to bring clips of live and breaking events into the Twitter stream. SnappyTV clients include Fox (FOXA), The CW, NASCAR, and the U.S. Open, TechCrunch.com reports.
Shares of Twitter are down -0.10% to $38.70 in mid-morning trading on Thursday. TWTR data by YCharts
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV