Image via CrunchBaseTwitter has recently acquired an internet company which will reward it with an advanced expert team in the technique of advertising campaigns on Google Inc. AdGrok has now stepped up to Twitter, from Google, to help gain the company better revenue generation. It was announced on the official website of AdGrok, that the company has been acquired by Twitter as of this Tuesday. Further the notice on the website revealed that this acquisition has been made to work on a "monetization platform" for Twitter. It was also notified that now the company was not working to serve the customers of Google's AdWords platform anymore and it will discontinue all of its previous endeavors by the end of June.The statement at AdGork’s website stated: "We're happy to announce that Twitter has acquired the AdGrok team. Starting today, we will be working full-time on Twitter's revenue engineering team." According to the spokesperson of Twitter Inc., Matt Graves, two executive of AdGrok team will now be collaborating with Twitter and reporting at its San Francisco headquarters. While it was revealed by an email of Graves that the third executive and co-founder of the company has found an employment and will join Facebook, the fiercest rival of Twitter.
Neither Twitter, nor AdGork has revealed the price of the deal, but according to a post of Techcrunch this deal was finalized at a settlement of somewhere less than $10 million. Twitter has been speeding up its efforts of generating better revenue since it began being driven by the new CEO Dick Costolo. Costolo has introduced better and new methods for all the marketers to display their ads in the microblogging website. However, still the revenue of the company is somewhat a lot less than its rival companies. Twitter is estimated to have almost about $150 million in ad revenue this year, whereas its rival Facebook is estimated to make a huge $4 billion. These statistics are published by the research firm eMarketer.
Twitter allows people its users to send 140-character text messages or "tweets" to all their followers through its most popular social networking website. During its evaluation in December, Twitter was calculated to be valued at $3.7 billion. Whereas a separate auction of Twitter shares in March in a secondary market indicated that investors are valuing the company’s share even more than $7 billion.
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