BackType already has a stable of clients including HubSpot and SlideShare
In a move sure to cause waves in the social media world,
Twitter as acquired social analytics company BackType in a deal in which terms
were not immediately disclosed.
On BackType's official blog, the deal was announced via
a posting on Tuesday afternoon. As the analytics startup's announcement notes, BackType
will be "bringing our team
and technology to Twitter's platform
team, where our focus will be developing tools for Twitter's publisher partners."
BackType's analytics software analyzes the potential impact
of social media on branding and marketing decisions. According to
TechCrunch, "the company assists more than 100 companies with their social
media analytics, from The New York Times and Edelman to startups like Bitly,
HubSpot, Hunch and SlideShare."
Software such as what BackType is providing may prove to be indispensable
as social media becomes a more integral part of the internet as a whole. For
instance, BackType's "BackTweets" application allows clients to "understand the
reach of their tweets and content, who they are reaching, and how Tweets covert
to web traffic, sales and other KPIs."
TechCrunch is reporting that BackType rose over $1 million
in funding from Y Combinator, True Ventures, K9 Ventures, Freestyle Capital,
Lowercase Capital, 500 Startups, Founder Collective, Raymond Tonsing, and
others. As a result of today's developments the company plans on offering its
BackTweets product to current users free of charge, but will be eventually discontinuing
the original BackType dashboard.