Twitter Buys TweetDeck To Boost Pre-IPO Value

Law360, New York (May 25, 2011, 4:05 PM EDT) -- London-based TweetDeck celebrated Wednesday when its muse, social networking phenomenon Twitter Inc., bought the tweet-monitoring company for an undisclosed sum, boosting its value to advertisers ahead of a rumored 2012 initial public offering.

Various reports put Twitter's purchase price for TweetDeck at between $40 million and $50 million.

Twitter said it bought TweetDeck to support the "important constituency" represented by TweetDeckers, who are some of the 140-character Web messaging company's more hard-core users. The move also represents a de facto overseas expansion of the San Francisco-based...
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