Twitter acquires screen-sharing social media app Squad
"Excited to share that the @squad team is joining @Twitter to help us bring new ways for people to interact, express themselves, and join in the public conversation," Twitter's VP of product, Ilya Brown, said in a tweet on Friday.
There were media reports that Twitter may shut down its live-streaming service Periscope after the Squad acquisition for which financial details were not disclosed.
Squad's co-founders, CEO Esther Crawford and CTO Ethan Sutin will join the Twitter team.
Squad raised $7.2 million in venture capital from the first round and according to Crawford, the usage of the app saw a massive spike during the pandemic.
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