// Posted by Patrick on 02/10/2013 (8:31 PM)
Twitter bought the company Bluefin Labs earlier this week for nearly 100 million dollars. Bluefin is a company that records and analyzes online interactions and chitter about tv shows, and then sells their findings. Read more
Twitter bought the company Bluefin Labs earlier this week for nearly 100 million dollars. Bluefin is a company that records and analyzes online interactions and chitter about tv shows, and then sells their findings. The New York Times reported the purchase February 5th after Twitter and Bluefin both released blog posts confirming the deal had been made. Ali Rowghani a chief operating officer at Twitter said in a statement that, “We believe that Bluefin’s data science capabilities and social TV expertise will help us create innovative new ad products and consumer experiences in the exciting intersection of Twitter and TV.” Twitter spent over 100 million for this company, but why? Bluefin Labs will help Twitter take advantage of what is becoming a new “social TV experience.” This happens when people watching TV will communicate in real time over twitter over whats going on in the show.
A short video published by Marketplace.org helps explain how twitter will be able to find out what people are talking about and should in turn be able to turn a profit from using this knowledge about what is trending. This acquisition is taking place in a time where people already believe that certain internet companies have to much power and will end up hurting the consumers if they get to big for their own good. While Twitter is still not nearly as large as Facebook or Google this purchase is going to help greatly expand the company. The question that is put forth is whether certain internet giants are becoming to powerful and are threatening to monopolize their respective markets. Google is a good example, it still accounts for 90 percent of searches in europe even though other search engines such as bing and yahoo are available for use. Googles dominance of the search engine market will make it close to impossible for other companies to make any profit. And if there was a company that did show some promise to become a big influence in the market google could simply buy that company. Twitters recent acquisition of Bluefin is the latest example of the expanding internet giants and as our appetites for information grow it will be interesting to see how these companies continue to expand.