NEW YORK (TheStreet) - Twitter (TWTR) said on Tuesday it acquired Gnip, a longtime partner that evaluates social data, as the popular micro-blogging site seeks to bolster its analytic capabilities. The move is similar to other deals Twitter has cut within its ecosystem such as the 2011 acquisition of TweetDeck.
Twitter did not disclose a price of its Gnip acquisition. The company reportedly paid $40 million for TweetDeck, while the company reportedly paid $30 million for micro-video site Vine. Twitter's largest acquisition to date is a $350 million deal for digital publisher MoPub, announced in September 2013.
With Gnip, Twitter expects it will make data on its site to marketers that place advertisements on the site. "[W]ith the help of Gnip's Boulder-based team, we will be extending our data platform - through Gnip and our existing public APIs - even further," Jana Messerschmidt, Twitter's VP of Global Development, said in a blog post.
"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," Messerschmidt added.
Gnip's relevance to Twitter and its advertising customers is underscored by the company's life after its November initial public offering. Twitter increasingly will need to show investors and marketers that advertising dollars spent on the site pay off. Those ad dollars also come as some question Twitter's user growth and engagement.