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Twitter buys Periscope, opens the door for live video streaming

Twitter has confirmed the purchase of the Periscope live streaming service, with the company now expected to push the ability to broadcast and view live streams via the social network.

The makers of the yet-to-launch Periscope app today announced (via a tweet) it had been purchased by Twitter back in January, which was later retweeted by Twitter’s own Kevin Well.

Well added: “Excited to officially welcome Periscope to the Twitter team. Can’t wait for everyone to see what they’ve built!

Twitter is saying very little about how it plans to use the app, but TechCrunch sources claim it’ll be relaunched as an app separate from Twitter in much the same way the company handled the Vince acquisition.

The app will enable viewers to tune into live and previously recorded streams, according to the sources. The current leader in the space Meerkat doesn’t enable users to record their videos for later viewing.

According to reports streams can be public or private, while broadcasters will be able to send a link to their Twitter feed. Viewers will be able to comment on the videos as they’re being broadcast and “shower broadcasters in animated hearts to show their appreciation” according to TechCrunch.

Related: Twitter testing ‘TV Timelines’ for second screen experience

Suggestions are that Twitter has paid unto $100m in cash for Periscope, while handing its team hearty stock opportunities.

The Periscope app remains in private beta. When it will actually launch remains to be seen.

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