“When Twitter approached us and asked if we’d be interested in working on their monetization platform, we realized that this was a once-in-a-lifetime opportunity that we just couldn’t pass up,” wrote AdGrok’s Matthew McEachen on the company’s blog.
AdGrok will not be taking on any new customers and will stop charging its current users immediately.
The move could signal that Twitter is trying to become a more diversified company and clarify its advertising strategy, which it has struggled with in the past. McEachen mentioned specifically that the company will work with Twitter’s promoted products.
VentureBeat pointed out that acquiring AdGrok might also signal that Twitter will be releasing more tools for users to analyze how their messages are viewed and shared, something Twitter has traditionally left to third-party apps such as HootSuite or bit.ly.
The company is thought to be pulling many of the functions from third-parties into its official service; reports surfaced that the company is also planning to release its own photo service tomorrow.
This is the second major acquisition from Twitter this month — last week it officially said it will acquire TweetDeck.