Summify, a startup that uses social data to create a personalized news digest, just announced that it has been acquired by Twitter.
This sounds like a talent acquisition on Twitter’s part — in other words, the main purpose of the acquisition was probably hiring the Summify team. Some of Summify’s feature have been immediately disabled, it’s no longer accepting new users, and in a few weeks, Summify says it will shut down the current product entirely. Meanwhile, the startup will be moving from Vancouver to San Francisco to work out of the Twitter office.
The company’s investors include Accel Partners, Rob Glaser, Stewart Butterfield, Steve Olechowski, and Canadian super angel Boris Wertz.
Regardless of whether or not Twitter ends up using Summify’s technology, the deal seems like a good match. Twitter has been doing more (especially in the new version of the service) to highlight news that breaks on Twitter, while Summify is all about looking at the social graph to find the most relevant news for each user.
On its blog, Summify team wrote:
Our long-term vision at Summify has always been to connect people with the most relevant news for them, in the most time efficient manner. As hundreds of millions of people worldwide are signing up and consuming Twitter, we realized it’s the best platform to execute our vision at a truly global scale. Since Twitter shared this vision with us, joining the company made perfect sense.
Created in 2006, Twitter is a global real-time communications platform with 400 million monthly visitors to twitter.com, more than 200 million monthly active users around the world. We see a billion tweets every 2.5 days on every conceivable topic. World leaders, major athletes, star performers, news organizations and entertainment outlets are among the millions of active Twitter accounts through which users can truly get the pulse of the planet.