Twitter could soon be learning even more from the 500 million tweets that users post each day.
The San Francisco-headquartered company has acquired Gnip, a social data firm that collects, processes and analyzes information, The Wall Street Journal reported.
Gnip, which works in more than 40 countries, has been a longtime Twitter partner and was the first company authorized to resell Twitter data as well as the first allowed to access the site's archive of public tweets.
Based in Boulder, Colo., Gnip also works with Tumblr and gives access to other social data sources. The details of the acquisition were not disclosed, and it is unclear whether or not Gnip will continue to process data from Tumblr and other companies.
Twitter appears to be honing its plethora of data for the businesses, public figures, journalists and more who use the messaging service to get news and real-time information and apply it to their work.
"These public Tweets can reveal a wide variety of insights--so much so that academic institutions, journalists, marketers, brands, politicians and developers regularly use aggregated Twitter data to spot trends, analyze sentiment, find breaking news, connect with customers and much more," Jana Messerschmidt, vice president of Twitter's global business development and platform, said in a statement.
"We want to make our data even more accessible, and the best way to do that is to work directly with our customers to get a better understanding of their needs."
Gnip works by culling publicly shared tweets, compiling them into comprehensible sets of data and then sending the information to companies worldwide, CNET reported. The resulting information can be used for research and marketing.
Twitter shares rose 2.2 percent to $41.78 after the Gnip acquisition was announced.
Apple purchased Gnip competitor Topsy Labs Inc last year for more than $200 million, sources told WSJ.
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