(Editor’s note: This post was updated to include Jack’s pitch. Watch for Jack’s interview with Vator.tv next week.)
Twitter confirmed that it bought Summize for an undisclosed sum, as noted in Twitter co-founder Biz Stone’s blog post. The price tag is $15 million in mostly stock, according to Silicon Alley Insider. It’s hard to determine whether it’s stock well spent, but suffice it to say, on the surface it looks like a good acquisition, based on Summize’s search engine, which is already integrated into Twitter search.
Here’s a few points of interest:
Twitter is now the place to go to find out “who’s talking about you or your company [in 140 characters].” It’s yet another ego search the Internet generation will be doing, I”m sure.
Twitter is now another voyeuristic tool to find who’s talking about whom.
Twitter just bought a company with an obvious business model, paid search – something that is tried and true.
Companies with no business model – like Twitter – can actually make double-digit million dollar acquisitions.
Companies that raise $15 million – like Twitter – can make an acquisition for $15 million, especially when the acquisition is in stock and the valuation of the acquirer is $95 million.
I’m interviewing Twitter CEO and co-founder Jack Dorsey on Wednesday.
Here’s what people are saying about Jack on Twitter search.
