Twitter Buys Gnip and Hires Former Google Director while Bank of America Reports $276M Q1 Loss
Twitter, Inc. (NYSE: TWTR) has agreed to acquire data partner Gnip, in a deal that did not disclose any financial terms. Gnip has access to Twitter’s full stream of tweets since 2006. The company analyzes this information and sells it, primarily to businesses that are interested in how consumers view them. Twitter now averages roughly 500 million tweets a day. The company also announced that it has hired Daniel Graf, who was most recently a director at Google and oversaw Google Maps since 2012.
Twitter, Inc. is a global platform for public self-expression and conversation in real time. It provides various products for users, including Twitter that allows users to express themselves and create, distribute, and discover content; Vine, a mobile application available on the iOS, Android, and Windows operating systems that enables users to create and distribute short looping videos; and #Music, a mobile application that helps users discover new music and artists based on Tweets.
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Bank of America Corporation (NYSE: BAC) reported a $276 million first-quarter loss as revenue declined and as the bank struggled with legal costs stemming from the financial crisis. Bank of America said that revenue for the quarter slipped to $22.76 billion, slightly higher than the $22.33 billion forecast of Wall Street analysts surveyed by Thomson Financial Network. The bank also said it lost 5 cents a share. A year ago in the same period, it earned 10 cents a share or $1.5 billion.
Bank of America Corporation, through its subsidiaries, provides various banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, corporations, and governments in the United States and internationally. The companys Consumer & Business Banking segment offers traditional and money market savings accounts, CDs and IRAs, checking accounts, and investment accounts and products, as well as credit and debit cards; and lending related products and services, working capital management, and treasury solutions.
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