Twitter announced Wednesday that it has acquired a social tracking TV service, Trendrr, to boost real-time coverage of TV trends.
Twitter confirmed its latest acquisition of a social media analyzer, Trendrr, Wednesday. The social network revealed its plans to "build great tools for the rest of the TV ecosystem" with its latest acquisition. Trendrr announced the merger in its official press release and said that it would honor its existing contracts, but no longer renew or sign new ones going forward.
Excited to welcome @Trendrr to the Flock! Will help us to build great tools for the rest of the TV ecosystem. https://t.co/5PSbbIA2N6
- Twitter Media (@twittermedia) August 28, 2013
"Having sat at this intersection of TV and social media for years, we've analyzed data from lots of platforms," Trendrr CEO Mark Ghuneim wrote in the blog post. "What makes Twitter uniquely compelling among these platforms is its connection to the live moment -- people sharing what's happening, when it's happening, to the world. We think we can help amplify even stronger the power of that connection to the moment inside of Twitter."
Twitter has emphasized the importance of television by acquiring two out of three most dominant, standalone social TV chatters in the business. Earlier in the year, Twitter purchased Bluefin Labs for more than an estimated $80 million.
With the help of Trendrr's technology, Twitter can now develop new products and encourage users to send out more tweets related to brands and television. Also, with these new products, Twitter can earn more advertising revenue using Trendrr data.
Trendrr, formerly known as Infofilter, was designed by a digital marketing agency, Wiredset, in 2006. After it gained success with early projects, the platform expanded and evolved to Trendrr in 2007. Some of its high-profile clients include ABC, MTV, Telemundo and Univision.
Trendrr made the headlines after it posted a study that concluded Facebook was five times as large as all other social networks combined in terms of its user engagement related to television programming.
