Periscope was a live video streaming app that allowed users to broadcast real-time video to their followers. The app was launched in 2015 and was acquired by Twitter in 2015, just a few months after its initial release.
Periscope was initially available on iOS devices, but was later expanded to Android devices as well. The app allowed users to share their live video feeds with their followers, who could then watch and interact with the stream in real-time by commenting and sending “hearts” to show their support.
In addition to live streaming, Periscope also offered a “replay” feature that allowed users to save their live streams and make them available for playback for up to 24 hours after the broadcast.
Despite its initial popularity, Periscope faced stiff competition from other live streaming platforms like Facebook Live and Instagram Live, and struggled to attract new users. In December 2020, Twitter announced that it would be shutting down Periscope in March 2021, citing declining usage and the availability of other live streaming options on the market.
Twitter shut down the Periscope app
Now, Twitter shut down the Periscope app on March 31, 2021, and it is no longer available for download or use. However, Twitter has integrated some of Periscope’s live video streaming features into its own platform, allowing users to broadcast live video directly from Twitter using the “Live” feature. Twitter has also integrated live video into its audio-only Spaces feature, which allows users to host live audio conversations with their followers.
So while Periscope as a standalone app no longer exists, some of its live video streaming features and functionality have been integrated into Twitter’s own platform.
The Financial Terms of Periscope
Twitter acquired Periscope in January 2015, just a few months before the app was launched to the public. The financial terms of the acquisition were not publicly disclosed, so the exact amount that Twitter spent to acquire Periscope is not known.
However, according to reports at the time, the acquisition was valued at around $100 million, which would have been a significant investment for Twitter. The acquisition of Periscope was part of Twitter’s efforts to expand its live video capabilities and offer new ways for users to engage with one another in real-time, and it was seen as a strategic move to help Twitter compete with other social media platforms like Facebook and Snapchat.