Twitter Buys Summize

July 15th, 2008 at 12:00 am
 


twitter summize birds

The previous report that Twitter was planning to buy the Twitter Search engine Summize has been confirmed and sealed.  Twitter does acquire Summize.

Twitter announced the acquisition on its blog post Finding a Perfect Match , as if the two companies were lovers.  "We’re excited to announce that Twitter has acquired Summize—an extraordinary search tool and an amazing group of engineers. All five Summize engineers will move to San Francisco, CA and take jobs at Twitter, Inc. This is an important step forward in the evolution of Twitter as a service and as a company." 

In our initial post on the rumor of the two companies hooking up, it was clear that Twitter and Summize were meant for each other and that an acquisition of Summize was expected.  Twitter, a very popular application that lets users update their status in real time and tell the world what they are doing has captured the hearts of Silicon Valley and apparently a lot of the world as well.

Although Twitter has been having problems like a diva with a bad drinking problem with all the downtimes and the inability to cope with the growing demand of its service, it has remained that its core service is as innovative and worth every cent of its $80 million valuation and recent $15 million venture round.  However, the popularity of Twitter has caused some spin-offs that are proving to be technically better than itself.  Friendfeed, a spin-off which does the same thing already took their service a step forward with real time feed search.  Twitter was unable to do this before but with the acquisition of Summize, they have a solution.

Now Twitter and Summize have joined forces and talent which make them a formiddable dominant player in its market.  the acquisition of Summize cost Twitter $15 million combined cash and stock.  Their employees will now be working together.