Twitter on Tuesday announced its acquisition of the social data insight provider Gnip — the latest in a spate of big data buyouts as companies like Apple, Google and Facebook race to claim ownership of social data analytics companies.
Functioning as sort of archaeological crew, Gnip's platform sifts through mounds of social media posts and filters those that could lead to critical business decisions and transactions for its clients. Gnip pulls data from not only Twitter, but also Tumblr, WordPress, YouTube, Facebook, Instagram, Foursquare, and others.
For Twitter the goal with Gnip will be to make its data accessible to the bevy of marketers, journalists, brands and politicians that already use the social media platform to spot trends, find breaking news and analyze sentiment.
Gnip has been one of Twitter's Certified Partner Products for the last four years, with direct access to the social media giant's stream of tweets flowing through the site every second. As Twitter brings management of the tweet stream in-house, the company could finally be offering that data as a desireable product.
Twitter's Jana Messerschmidt, the VP of Global Business Development & Platform, said in its blog post announcing the aquistion that Gnip has only begun to scratch the surface of big data's potential in the social media space:
As Twitter has grown into a platform that delivers more than 500 million Tweets per day, Gnip has played a crucial role in collecting and digesting our public data and delivering the most essential Tweets to partners. Together we plan to offer more sophisticated data sets and better data enrichments, so that even more developers and businesses big and small around the world can drive innovation using the unique content that is shared on Twitter.
Messerschmidt added that Twitter plans to continue Gnip's existing relationships and grow the customer base. Terms of the deal were not disclosed.