Twitter Eyes, Buys & Denies Summify

Posted by · January 19, 2012 3:06 pm
Summify

Image via Wikipedia

Taking to the company blog one last time, social news aggregator Summify broke an atypical silence to announce that it has been acquired by Twitter. Best known for its email news summary app, Summify is a startup that has operated out of Canada for the past two years, prior to which the company was headquartered in Romania.

The Summify Team added the following in its announcement:

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 just 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.

As a result of the acquisition, the Summify staff will be making its way to Twitter headquarters in San Francisco to begin working alongside the site’s growth team. In fact, Summify announced that it will no longer be accepting new users as it begins to phase out features until the product ultimately shuts down in a few weeks.

Such an announcement could reasonably lead one to assume that Twitter bought Summify in order to snatch up its talent and rid the market of a potential competitor. As Twitter continues to look for additional ways to maximize the use of its forum as a source of breaking news, it would not be surprising to see the popular microblogging site eventually borrow from the Summify playbook in order to deliver news that’s uniquely relevant to each user.

As for the terms of the deal, nothing has been disclosed as of yet. However, it has been reported that Summify raised an unknown amount of financial support from a number of investors, including Accel Partners.