Twitter Acquires Tweetie, Loren Brichter

Filed under: Deals, Internet, Apple Inc (AAPL), Technology

Last year, Twitter said it had two goals for 2010: generate revenue and make acquisitions. At the time, the company was still sitting on a significant portion of its last round of capital, and given the $20 million annual burn rate revealed late last year -- plus the revenue it's generating -- it's unlikely that Twitter has had to deplete its coffers. So, Twitter has cash to put to work, and now we're seeing what that means.

On its blog, Twitter announced Friday that it has entered into an agreement with Atebits (aka Loren Brichter) to acquire Tweetie, which is one of the top Twitter clients for the Apple (AAPL) iPhone. In addition to acquiring the application, Twitter is also picking up talent. Brichter's efforts were good for a 2009 Apple Design Award, and he'll be part of future efforts to get Twitter for the iPad off the ground.

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Twitter Acquires Tweetie, Loren Brichter originally appeared on BloggingStocks on Sat, 10 Apr 2010 14:40:00 EST. Please see our terms for use of feeds.

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