Twitter Snaps Up SnappyTV

Deal Builds On Twitter’s Social TV Strategy
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Twitter pushed its social TV strategy forward a few steps Thursday by announcing it had acquired SnappyTV, a startup that uses a cloud-based platform to help broadcasters, programmers and other content providers share video clips via the Internet in near real-time.  

Financial terms were not disclosed, but SnappyTV is member of Twitter’s Amplify ad platform and has already built Twitter data directing into its editing platform, SnappyTV noted in this blog post announcing the deal.

SnappyTV’s customers include Fox Sports, Pac 12 Networks, The CW, NASCAR, ABC News and Universal Sports, among others. If recent note, SnappyTV has teamed with Univision to deliver video highlights from the 2014 FIFA World Cup “within seconds of moments airing live” of every match as they unfold via Twitter.

“While we continue to invest in SnappyTV’s product and integrate it more tightly with Twitter, we also plan to maintain our partners’ ability to post high-quality videos to other platforms,”  Baljeet Singh, Twitter’s director of product management, said in this statement on the deal.

Founded in 2010, San Francisco-based SnappyTV has raised about $759,300, according to CrunchBase. Its investors include Great Oaks Venture Capital, Transmedia Capital and Freestyle Capital. SnappyTV  co-founders Mike Folgner (CEO), Ryan Cunningham (CTO), and Stephen Weibel (creative director) all hail from Yahoo.