Wednesday, May 25, 2011

TweetDeck Estimated 40 Million Dollar

For weeks, we've heard rumors that Twitter was to purchase the popular third-party app, TweetDeck, and its finally confirmed. According to CNN and CNET, Twitter acquired
TweetDeck today for $40 million in cash and stocks. Twitter has finally got its hand on an application that has been praised by the most active Twitters for its elegant interface and enhance capabilities.

As you might already know, TweetDeck has been under the eyes of investors since February, where reports indicated that TweetDeck was on the merge of being acquired by Uber Media for up to $30 million. TechCrunch had even claimed that the deal had been signed. The fact that we've not heard a word on the transaction since it came out suggested that Twitter provided a counter offer- one that couldn't be refused. The WSJ had reported that Twitter was in "advanced talks" with TweetDeck, offering $50 million dollars, considerably more than the final deal.

It's logical that Twitter didn't want to allow UberMedia to grab another chunk of the market share, after all, Twitter can't let companies that simply aren't Twitter get their hands on Twitter startups and products. If UberMedia had managed to close the deal, it would have gained way too much leverage over Twitter. Twitter even blocked UberMedia's applications for several days due to concerns of trademark violations and privacy issues.

Twitter has made some fantastic investments in the past years, turning Tweetie in 2010 to its current iPhone app and the Summize search engine into Twitter search. It makes sense for Twitter to own its most dedicated users' client of choice.

Twitter declined to comment on the reports, stating from their public relations Twitter account that

"for all those who might be curious, we continue to not comment on rumors."

Although the deal has yet to be tweeted by Twitter, judging by what we're hearing from sources, its a done deal.

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