Twitter Snaps Up Social TV Analytics Firm Bluefin Labs
Twitter announced Tuesday that it had acquired Bluefin Labs, a Cambridge, Mass.–based software company that analyzes online conversations about television programming and sells its findings to advertisers.
Twitter has not disclosed details of the acquisition but analysts estimate that the purchase price ranges from $70 million to $100 million, making it the largest acquisition in the company's history.
Bluefin, which originated in MIT Media Lab's Cognitive Machine Group, uses a set of algorithms to identify and analyze patterns in social media commentary, which it maps out in a "TV genome." The TV genome, Bluefin explains on its Web site, "is essentially a huge dataset that quantifies and organizes all social media conversations about TV."
Brands and networks use Bluefin's findings for insight into targeting their online and offline advertising. According to a Nielsen report, 85 percent of mobile device owners use their tablet or smartphone while watching TV at least once per month and 40 percent do so daily.
Twitter's announcement follows the news in December that it had partnered with Nielsen to develop the Nielsen Twitter TV Rating, a social TV measurement based on Nielsen's SocialGuide platform.
The acquisition is expected to give Twitter a stronger foothold in second-screen advertising, i.e., ads on tablets and smartphones that complement what is shown on television, and a new revenue stream.
"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," Ali Rowghani, Twitter's chief operating officer, wrote in a blog post.
Twitter will allow Bluefin to continue serving its existing customers, Rowghani continues, but it will not sell Bluefin's product suite beyond the existing contracts.
Google Introduces AdWords Business Credit
New credit card targets SMBs looking to advertise on Google.
Conversocial Unveils Social Alerts to Identify Brand Crises on Facebook and Twitter
The new platform update allows customer service teams to prevents complaints from going viral.
Twitter Is an "Interest Network," Says Twitter Exec
Don't call it a social network.
Conversocial Introduces Proactive Social Customer Service Channels
The solution connects companies to Twitter to advance social media strategies beyond monitoring.
Twitter Rolls Out Transparency Site
Transparency.twitter.com unleashes data about copyright notices, removal, and information requests.
Twitter Releases ADs API
New program makes it easier for advertisers to create sophisticated campaigns.
A First Look at Second Screens
As media consumption becomes more fragmented, marketers consider syncing television and mobile content.
A View From My Seat Gains Insight, Higher Usage
With Artisan Optimize, an app developer takes advantage of A/B testing and more.