Twitter Acquires Data Startup Gnip

Twitter is acquiring social data analytics firm Gnip, a step that will give the microblogging service more control over the monetization of its content.

The value of the deal was not immediately disclosed, but Gnip has raised $6.6 million in funding. Gnip was the first company to be authorized to resell Twitter's historical data.

Twitter and Gnip announced a partnership in 2010 that provided the "firehose" of data to clients, helping to generate revenue from the information created by Twitter's user base.

"We want to make our data even more accessible, and the best way to do that is to work directly with our customers to get a better understanding of their needs. To that end, we have agreed to acquire Gnip, a leading provider of social data and a long-standing Twitter data partner," Twitter wrote in a blog post. Read more...