Twitter has purchased AdGrok for an undisclosed sum, the keyword bidding platform revealed on its blog today. While Twitter hasn't commented extensively on the acquisition, the deal appears to be a technology-and-talent buy that could ultimately help marketers better target Promoted Tweets, Promoted Accounts, and Promoted Trends advertising.
In a brief email exchange with ClickZ News, Twitter spokesperson Matt Graves confirmed that AdGrok founders Argyris Zymnis and Matthew McEachen will join the company at its San Francisco headquarters. They will work "as part of our revenue engineering team," Graves said.
AdGrok is shutting down all operations by June 30. After that time, the San Francisco-based startup said business users' data can continue to be accessed through Google AdWords and Google Analytics.
TechCrunch first reported yesterday that the deal was in the works, citing a source that said Twitter would pay less than $10 million. It's Twitter's second notable acquisition in the last week, following the purchase of TweetDeck. Twitter paid $40 million for TweetDeck, a 15-person shop based in London, according to the Financial Times.
Meanwhile, TechCrunch is reporting that AdGrok CEO Antonio Garcia-Martinez has accepted a position at Facebook.
See what's on the Agenda!
Mar 31 - Apr 3 - ClickZ Live is a brand new global conference series kicking off in New York City. Learn how to improve customer engagement and attain maximum ROI, and gain invaluable digital marketing and advertising take-aways.
Find out more ››
*Super Saver Rates expire Jan 24.
Christopher Heine was a senior writer for ClickZ through June 2012. He covered social media, sports/entertainment marketing, retail, and more. Heine's work has also appeared via Mashable, Brandweek, DM News, MarketingSherpa, and other tech- and ad-centric publications. USA Today, Bloomberg Radio, and The Los Angeles Times have cited him as an expert journalist.