Pray for Meerkat. The livestreaming video app has been a big hit with tech mavens – countless of them were using it to boast about their access to the demo room at last night’s Apple Watch launch – but Twitter has gone ahead and bought a rival that hasn’t even launched properly yet.
We reported on rumours that Twitter was acquiring still-in-beta app Periscope earlier this month, but now Business Insider says the deal is done. “One investor source says the acquisition amount was ‘sizeable,’ above $50 million. Another says it fell between $75 and $100 million. A third says the deal was ‘small-ish.’ Size is all relative, we guess,” claims its report. We suspect that Twitter’s strategy here will be to launch Periscope as a standalone app, following the same approach as Vine, which was also acquired before launching commercially.