Twitter keeping pace with Facebook! Acquires Gnip.

It all started with the Facebook purchase of WhatsApp for $19 billion earlier this year.

Well Twitter is following this move, but on a lower financial scale. Twitter has agreed to purchase Gnip, a company that provides data about activity on the social network as it is occurring, in a deal that is worth more than $200 million.

Twitter of the past couple years has become a main source in social media and its purchase of this eight year old company is the latest in a series of purchases by Twitter to improve its ability to provide information about it users behaviors to potential sponsors.

We are seeing more and more that social media companies are looking to improve their communication in any way possible and are making size able financial bets on future outcomes. It seems as it is almost a race between Twitter and Facebook to see who can dominate the social media market.

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