Twitter has been revolutionizing the way we share our thoughts and do business across the world. Now Twitter is adding a new dimension to its service with the acquisition of TapCommerce. Twitter said in a press release on Monday it has agreed to buy TapCommerce reported PC World on July 1, 2014.
TapCommerce is an innovative mobile advertising company which focuses on re-engaging people who have downloaded advertisers’ apps. The financial terms of the proposed purhase of the New York startup have not been disclosed. However, some reports have suggested Twitter will be paying about US$100 million for the firm. CEO and cofounder Brian Long said of TapCommerce in a post that the platform presently processes over 15 billion targeted ad impression bids daily across 50,000 apps across the world.
On Monday Twitter also announced the global rollout of its “mobile app installs” program. This program allows businesses to promote their mobile apps in users’ feeds. The is all part of Twitter's continued strengthening of its mobile advertising offerings which included the purchase of mobile-focused advertising exchange MoPub last year and of Namo Media, which is a provider of native advertising in apps, in June.
Twitter has been focusing on a “retargeting” strategy to attempt to get users to view apps which they have previously downloaded reports Fox Business Network. Richard Alfonsi, VP of Twitter Global Online Sales, has said that advertisers spend a lot of money to get new users, but re-activating existing or previous users can offer just as attractive a return on investment. TapCommerce has been successful in raising $12 million in funding from RRE Ventures, Metamorphic Ventures, Nextview ventures, Bain Capital Ventures, and Eniac Ventures. The acquisition of TapCommerce looks like a good move for Twitter.