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Twitter Snaps Up Slack Competitor Quill In Bid to Own DMs

The details of the acquisition, particularly how much it cost, are not being made public.

In an effort to expand its direct messaging feature, Twitter ( (TWTR) - Get Twitter, Inc. Report) announced plans to acquire work messaging platform Quill.

Launched in February by former Stripe Creative Director Ludwig Pettersson, the San Francisco-based platform is a competitor to more established business messaging platforms like Slack and Discord. 

The company has raised over $14.5 million in funding from backers like Sam Altman and General Catalyst but will now be shut down as staff move over to Twitter's Experience org.

The details of the acquisition, particularly how much it cost, are not being made public.

"@ludwig and his talented team built Quill as a fresher, more deliberate way to communicate," Nick Caldwell, Twitter's general manager for core tech, announced on his account on Tuesday. 

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"We're bringing their experience and creativity to Twitter as we work to make messaging tools like DMs a more useful & expressive way people can have conversations on the service."

In a farewell blog post, Quill vows that they will continue to improve the "quality of human communication" and tells users that they have until Dec. 11 to export their messaging history. 

Petterson will be joining Twitter’s Conversations team under Oji Udezue.

The move is Twitter's first big acquisition under the new leadership of Parag Agrawal after Jack Dorsey's exit from the company at the end of November. 

While Twitter stock is currently down to what it was when the company went public in 2013, some analysts argue that the current downturn represents a buying opportunity, as the company expands new features and launches new initiatives to improve user engagement.

At close on Tuesday,  (TWTR) - Get Twitter, Inc. Report shares were flat at $44.46 but down 16.07% from the start of the month.