Social network Twitter has acquired microblogging platform Posterous for an undisclosed sum. Posterous offered similar, but less well known services. The purchase appears to be focused on the talent pool available at the company.
German carrier Deutsche Telekom has announced a strategic partnership with Twitter, allowing subscribers with selected Android smartphones to keep up with the social site directly from their home screen. The service will launch next year, initially in Germany, the Netherlands, Romania, Greece and Croatia.
Apple has acquired social media analytics company Topsy in a deal reportedly worth around $200m, it was revealed Tuesday. With one of the few companies with privileged access to all of Twitter’s data now in Apple’s arsenal, the move could signal a renewed push into the enterprise as well as bolstering its consumer proposition.
There’s plenty of stuff in this world the Informer doesn’t understand and how companies that make no money can rake it in from a stock market floatation is one of them. The Twitter founders buzzed the bell at the New York Stock Exchange on Thursday and released 70 million shares to the frenzied masses. Despite opening at $26, the market closed at almost $45, with the company reflecting a market value of more than $31bn. The company’s valuation ahead of the IPO was closer to $17bn.
With Twitter’s IPO set to go live later today the company has priced its shares at $26 each, higher than the expected range of $23-25. With 70 million shares on offer the company is looking to score around $1.8bn in proceeds with a 30 day option for another 10.5 million shares to be sold.