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 Send to email | Twitter Buys Summize For About $15M: Gets Search - And Maybe A Business Model in General |  By Silicon
el 15-Jul-2008 |
twitter-summize.jpg: Paste this image in your site, Myspace, Facebook, Ebay copy this code...
 Now it's a done deal. Twitter has purchased search engine Summize, a deal that leaked out last week but didn't wrap up until the last few days. Twitter's Biz Stone has the official announcement here, but of course don't offer up the most pertinent information, like price.
Our best effort: We hear the 5-man, Virginia-based company sold for something in the $15 million range, paid out in a mix of cash and Twitter stock. Yes, Twitter stock: A company that has no obvious business model but does have plenty of technology problems is now in the position to fund M&A with equity, thanks to a funding round that values the company at about $100 million.
Think of that development as a Rorschach test for your take on Web 2.0 in general: Either this thing is going to implode very soon, or people who get hung up on startup valuations are short-sighted bores who don't get the possiblities of technology.
And, if you're feeling generous, Summize might well help Twitter solve its business model problem, too. Twitter users wouldn't stand for ads sold into their tweets, or on their Twitter pages themselves. But there are a couple of companies we can think of that have done well by selling ads on search pages.
Suddenly, Twitter has become a more interesting business. Or potential business, at least. And as a hedge, there's also no reason why Summize has to work with Twitter exclusively -- it could just as easily search other social networks/applications.
In any case, at a minimum, Summize is growing very, very fast, which in Web 2.0 terms means it has to be worth something, right? In March, the search engine was processing 71,203 queries per week; last week it handled more than 14 million. Chart via John Borthwick, whose Betaworks holding company invested in Summize last year:
summizegrowth.png: Paste this image in your site, Myspace, Facebook, Ebay copy this code...
See Also:
Twitter Buys Twitter Search Engine Summize -- Or Not
Twitter's New Valuation: "A Bit Less" Than $100 Million
Twitter Downtime: As Bad As Everyone Says It Is
Twitter Engineering VP Lee Mighdoll Out
Lead Architect Blaine Cook Out At Twitter
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| NY Tech Meetup Preview: A Twofer For Betaworks |  Don't think we've seen this before: Two companies backed by the same ... group of investors* presenting at the same NY Tech Meetup.
Firefly, a cool display app for Websites, and Summize, a Twitter search engine, are two of the 14 companies that have gotten funding from John Borthwick's Betaworks since last fall. We've just started using Summize, and find it to be a pretty good u [..] Read complete article | | Published 12-May-2008 by Silicon in General
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| Former Fed Regulator: Google-Yahoo Deal A Tough Sell To Feds (MSFT, YHOO, GOOG) | | Stifel Nicolaus analyst Blair Levin has broken down the odds that Washington approves one of multiple tie-ups in play right now: Microsoft (MSFT) buys all of Yahoo (YHOO) ; Microsoft buys Yahoo search; Yahoo hands over some of search to Google (GOOG).
Blair's bio makes him worth listening to: He was chief of staff to former FCC chair Reed Hundt for a good stretch of the Clinton administr [..] Read complete article | | Published 19-May-2008 by Silicon in GOOGYHOOMSFT
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| Affiliate Marketing on Twitter - Does it Belong? |  What do you think about affiliate marketing on Twitter?
Lately I’ve noticed more and more affiliate marketers getting onto twitter. There’s been a real buzz about it actually in many internet marketing circles - almost like it’s the latest ‘new’ thing (I guess it is relatively new).
The unfortunate thing is that the model I’m seeing some [...] [..] Read complete article | | Published 08-Oct-2008 by Darren Rowse in Affiliate ProgramsSocial Mediaaffiliate marketingsocial mediatwitter
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| Web Video Revenue Problem Solved | | For several years now, companies and analysts have been flopping around in search of a web video business model. Here's one that will work for the creators of videos. It just won't save YouTube
Angel invest [..] Read complete article | | Published 28-Oct-2008 by Silicon in General
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Twitter has acquired Twitter search engine Summize -- or has it?
The deal was first reported by English blogger Josh Chandler; Path 101 founder Charlie O'Donnell confirms th [..] 
Twitter isn't exactly desperate for a revenue model -- its founders have repeatedly said that growing their microblogging service and keeping it stable are their priorities. And we don't think its inve [..] 
