Twitter shares soar in wake of Gnip acquisition
Twitter's market shares went up by more than11 percent after the social network announced that it was acquiring Gnip for an undisclosed price.
The role of Gnip is limited to providing other firms with access to social media information streams.
According to TC, Gnip became well known by being a Twitter partner that could provide the latter's "firehose" of tweets to companies willing to pay for access.
Meanwhile, it is reported that Gnip's growing revenues will prove to be helpful for the social network in extending its financial growth that investors are expecting.
(Posted on 16-04-2014)