Twitter reportedly buys Periscope, a live streaming app

Twitter reportedly buys Periscope, a live streaming app

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Image: Noah Berger/Associated Press

Twitter may be getting into live videos with the help of an acquisition — just not the one you might think.

The social network has reportedly completed a deal to acquire Periscope, a startup still in beta that promises to let users “explore the world in real time through someone else’s eyes.” The acquisition was reported on Monday by Business Insider and Re/code, with both reports citing a source familiar with the deal.

A rep for Twitter did not immediately respond to Mashable‘s request for comment.

Rumor of the deal was first reported last week by TechCrunch, which quoted one source as saying the price tag could be as high as $100 million. Business Insider similar cites sources saying the deal could be as high as that amount, though the price range cited is very broad.

The deal comes at a time when Meerkat, a similar live streaming video service, has gained traction among many in the media as well as certain celebrities like Tony Hawk. The app had 20,000 users as of Thursday and appears to be growing quickly. According to Business Insider, Twitter completed the Periscope deal last month, prior to the launch of Meerkat.

For Twitter, the move into live video would appear to be a no brainer. The social network has doubled down on video this year with the launch of a native video tool sharing and editing tool. The ability to broadcast events in real time — protests, interviews, extreme weather and extreme cats — is a natural fit for service based on real-time news and information.

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Meerkat has already proven that many of Twitter’s power users have an interest in producing and consuming live videos. Just imagine how much more appealing that option might be if it actually lived on Twitter, rather than on a third-party application.

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