Twitter Buys Blog Platform Posterous
Just this weekend, we were discussing how Twitter + a blog platform would be a good match. Today Twitter announced that it had bought San Francsico-based Posterous for an undisclosed amount.
Posterous had raised $10.1M in two venture rounds plus seed funding from investors including Redpoint Ventures, Trinity Ventures and Jafco Ventures.</p><p>Posterous built a nice easy to use blog platform that got some traction, however, its growth paled in comparision to rival Tumblr.</p><p>The messaging seems to indicate that Twitter will shut down Posterous and assign the team to other tasks. At least that is what some concerned Posterous bloggers are thinking.
Posterous went through a major redesign last year that got some good reviews but they never focused much on how to make a living from the platform.</p><p> </p><p>It looks like there was about 20 people working at Posterous at this point. That’s a decent size team but given its mission, its not big enough to keep up with other social media platforms and not different enough to justify staying independent.
It also seems interesting that 2nd place blog platform like this and Six Apart are sold for not much gain whereas the successful blog sites themselves are worth a great deal. There were rumors today that Mashable might sell to CNN for $400M. It wasn’t that long ago when the media companies saw a big discount to the platforms that ran them.
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