By Sam Boughedda
Investing.com — Twitter Inc (NYSE:) revealed that it has acquired Sphere, a group chat app co-founded by British entrepreneur Nick D’Aloisio.
Twitter shares dipped 0.5% on Thursday
The London-based company was previously a question and answer app involving micropayments before it changed course to become a group chat app.
“Sphere started with a very different mission — to help anyone find and share knowledge instantly through the creation of a “global brain,” Sphere said in its announcement.
“What we realised is that some of the most helpful and knowledgeable conversations came from groups where members felt a strong sense of belonging to one another,” they added
The company has seen investment from Airbnb Inc (NASDAQ:) co-founder Brian Chesky, Tinder co-founder Sean Rad and Sequoia venture capitalist Mike Moritz.
While the deal’s financial details were not disclosed, it was confirmed that 20 Sphere employees will be joining Twitter. Additionally, Sphere said it will be winding down its standalone product next month.
In a Tweet, Twitter’s Vice President of Engineering, Nick Caldwell, announced the deal, saying, “the Sphere team’s expertise and leadership’s passion for finding ways to help people connect will help accelerate our Communities, DM, and Creators roadmaps.”
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