Social media platform Twitter has today announced that it is acquiring Squad, an application that allows users to share screen and video chat with friends at the same time. As a part of the deal, along with the product, the entire team of Squad, including co-founders, will join Twitter.
However, Twitter has not disclosed information about the acquisition and terms associated with it. Aster Crawford, the co-founder of Squad, revealed that Twitter will be using the expertise of the Squad’s team for audio and video-related features.
Commenting on this acquisition, she said, “I hope that our exit will tip the scale a bit more toward convincing investors to put money into diverse teams because each success is another proof point that we, the historically under-capitalized and underestimated founders, are a good bet. Invest in women and people of color because we will make you money.”
At the start of the pandemic, the usage of Squad increased by 1,100 percent. So, it comes as a bit of surprise that social media platform is shutting down the service that has been so popular. Users won’t be able to use the service anymore from 12th December.
While the company has not disclosed the reason behind shutting the service down, a report claims that the decision could be related to tools used for developing the service. Squad uses several of Snap’s developer tools, which may have made it difficult to integrate with Twitter’s backend.