Periscope, the San Francisco-based, live video streaming service start-up that’s yet to launch, confirmed its purchase by Twitter in a tweet on March 13.
Kevin Weil, Twitter’s VP of product, tweeted in response: “Excited to officially welcome @periscopeco to the Twitter team. Can’t wait for everyone to see what they’ve built!”
The Wall Street Journal had reported the January purchase of Periscope by Twitter for a rumoured $100 million, but the transaction had not been confirmed by either party until Friday’s series of tweets.
There’s also been a lot of speculation on how Periscope actually operates. It’s rumored to provide the ability to watch live and previously broadcast mobile video streams, and the company promised through an additional tweet that they’ll expand their beta testing: “You’ll be hearing more from us soon! We’re gradually expanding our beta, which you can sign up for here: https://periscope.tv .”
There’s also speculation that Periscope followers will be able to engage and comment on video streams, but neither company is talking at the moment.
Twitter spokesman Jim Prosser did not respond to inquiries at press time.