UberMedia’s Shopping Spree Runs Wild with TweetDeck, Snaps Up $17.5M For its Own Funds
Thriving within the Twitter ecosystem is UberMedia, as it widens it territory with its latest acquisition of TweetDeck, a UK-based Twitter management company. From the recent study on popularity within the social network, TweetDeck is the most popular app that is non-Twitter owned. The results also revealed that with this recent purchase, 20% of all daily tweets are posted using UberMedia facilities. Even with this figure, Twitter is not threatened by the company as there is no direct competition.
Following the announcement of this done deal, UberMedia receives additional funding of $17.5 million and augments its current state to $40 million. Although many are still unsure on how UberMedia will monetize its current properties, ads within Twitter are certainly their biggest source of revenues. This round of funding was led by Accel Partners.
Jim Breyer of Accel grants an interview with BoomTown to answer questions about previous tensions between Twitter and UberMedia. “We are hoping to work very closely with Twitter, as well as other social media platforms like Facebook. There will be a lot of efforts to monetize Twitter and there is no silver bullet.”
Since becoming a runner-up to Facebook, Twitter has also gained attention, funding, ads and support from all sides. It reached a certain level of fame in no time. Recent deals within Twitter are validation of its growing value in the industry. Just today, Dick Costolo of Twitter has delivered a very forward-looking speech at the Mobile World Congress conference, taking place in Barcelona. He mentioned company goals around strengthening Twitter’s presence on almost all devices available.
Costolo also shared his piece on the recent block the company experienced in the middle of the Egypt and Tunisia conflict. He said, “People live in the desert because they know a way to water – and just like that people found a way back to Twitter. But, it’s not our place to comment. It’s not just us or any one of these technologies changing world events. All we care about is allowing people to instantly connect.”
Since you’re here …
… We’d like to tell you about our mission and how you can help us fulfill it. SiliconANGLE Media Inc.’s business model is based on the intrinsic value of the content, not advertising. Unlike many online publications, we don’t have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.The journalism, reporting and commentary on SiliconANGLE — along with live, unscripted video from our Silicon Valley studio and globe-trotting video teams at theCUBE — take a lot of hard work, time and money. Keeping the quality high requires the support of sponsors who are aligned with our vision of ad-free journalism content.
If you like the reporting, video interviews and other ad-free content here, please take a moment to check out a sample of the video content supported by our sponsors, tweet your support, and keep coming back to SiliconANGLE.
