C-Suite Advisory

So, Who is buying Tweetdeck- Your social world now, Twitter or UberMedia?

The social networking company, Twitter is reportedly planning to spend $50 million buying TweetDeck, a desktop application for the micro-blogging site. Twitter is reportedly in “advanced talks” to buy popular Twitter client TweetDeck for about $50 million, according to a report by the Wall Street Journal . TweetDeck is one of the most popular Twitter clients on the market, allowing users to do many of the same things they can on on Twitter’s website and apps- tweets, direct messages, lists, search trends. What about UberMedia, who have been deep in plans to acquire TweetDeck themselves?

It was earlier reported that that Tweetdeck was up for sale to UberMedia for about $US30 million in cash and stocks. Cnet reported that Twitter Twitter blocked UberMedia’s applications, citing a variety of concerns including trademark violations and privacy issues, and then reinstated them several days later.

Twitter is trying gain more control over how its users access the service. Report said only 58 percent of Twitter members use official Twitter apps.Twitter has increasingly been designing its own applications, so a purchase of TweetDeck would give it access to existing expertise. It already has a close relationship with TweetDeck, thanks to a revenue-sharing agreement over “promoted Tweets”.

Recently an article in Fortune magazine, “Trouble@Twitter” criticized the company’s executive carousel and relative lack of activity in recent months. Twitter founder Biz Stone has said the company is concentrating its efforts on growing revenues and making strategic acquisitions. According to research firm eMarketer, Twitter’s advertising revenue was $45 million last year, but the company is expected to generate around $150 million this year.

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Megan Batchelor
Executive features editor at The CEOWORLD magazine and lover of reality TV. I eat cereal for breakfast, lunch and dinner.