Twitter acquires live video sharing site 'SnappyTV'

Micro-blogging website Twitter has reportedly acquired the live video sharing SnappyTV, the service allows users to edit video out of a live broadcast as soon as it airs and share it onto various social networks.

Twitter also has a service that allows companies to easily place short ads in front of these video clips, so getting broadcasters using SnappyTV is also another way for it to monetize, The Verge reported.

However, Twitter will integrate SnappyTV tightly, but the service won't lose its ability to share out to other platforms, which currently include Facebook and YouTube, the report added.

The new change will allow companies turn compelling moments into highlights to share on web, mobile, and social networks.