Twitter Inc (TWTR) In Negotiations to Acquire Shots

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Twitter Inc (NYSE:TWTR) has started approaching Shots to negotiate for the acquisition of the app, discloses a CNBC report citing an unnamed source from Shots. Twitter’s plan to purchase the app was accidentally leaked Monday in a tweet by CFO Anthony Noto about a planned deal to acquire an unnamed app.

The tweet has since then fueled speculations.  It was meant to be sent as a direct private message to another Twitter Inc (NYSE:TWTR) executive, and was deleted by Noto afterwards. But the media has been quick to grab a screenshot of the said tweet, which read ‘I think we should buy them. He is on your schedule for Dec 15 or 16 — we will need to sell him. i have a plan.’

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Re/code, which noted as early as last month that Twitter Inc (NYSE:TWTR) might be in plans to acquire apps to help it address growth objectives, have listed possible targets which, apart from Shots, included Storehouse, Mic News, Secret, Prismatic, Drawbridge, and Shopular. Re/code cites “people familiar with the discussions” in saying that Shots co-founders John and Sam Shahidi held several meetings with Twitter Inc (NYSE:TWTR) at its headquarters the past months.

Shots is a selfie app that enjoys the backing of pop singer Justin Bieber, who is said to be also an investor in the app. According to CNBC, the app has over 3 million user base, with two thirds of them women under 24 years of age. The app, which is available for iPhone and Android, allows users to take selfie photos using front cameras. Comments and public posts are not allowed, a restrictive feature that the app’s creators says is intended to prevent cyber bullying.

In an interview with the Los Angeles Times last week regarding the app’s first year anniversary, Shots co founder and CEO John Shahidi noted that the app was able to beat expectations, with daily user retention rate of 41 percent as opposed to their initial target of 30 percent.

This article has been written by Nonito Guntan.

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