Twitter Inc. said it is acquiring video-editing startup SnappyTV to become more useful to the television industry, as the microblogging service looks to expand its usage.
SnappyTV’s technology for editing and live clipping is already widely used by media companies thatTwitter works with, the San Francisco-based company said in a blog post today. Terms of the deal weren’t disclosed.
“As we continue to invest in video, it’s important for us to provide tools that make it easy for TV broadcasters, businesses, and event producers to share high-quality videos,” Baljeet Singh, Twitter’s director of product management, wrote in the post.
Twitter has been increasing its video features to appeal to media companies, which have been taking to the service to interact more directly and in real time with their viewers. Twitter in April added messaging to its Vine video application. The company is under pressure to add more users and improve engagement, as its membership growth has decelerated.
Twitter’s stock is down 39 percent this year, compared with a 5.9 percent gain in the Standard & Poor’s 500 Index.
SnappyTV, based in San Francisco, was founded by former Yahoo! Inc. general manager of video Mike Folgner four years ago. The company was already working with Twitter, as well as other companies including Google Inc.’s YouTube, according to its website.
“With Twitter we will continue our commitment to maintaining an open platform for social broadcasting of live events, across a variety of digital platforms,” the company said in a blog post.