Twitter is selling off assets, specifically the software maker Fabric to Google.
Twitter Is Selling Its Fabric Developer Platform to Google
Google is buying one of Twitter's big assets, Fabric, which makes software for mobile apps. The companies did not disclose the information on the financial terms yet. But Twitter is said to be selling off its assets as it faces growing demand from Wall Street to reignite growth and development as user and revenue increase flattens.
According to USA Today, Google says the acquisition will help it recruit mobile developers to its cloud computing service.
"When we look at Fabric, we see it as a great opportunity to bring together two amazing developer platforms, to really have the best of breeds," said Jason Titus, vice president of Google’s Developer Product Group.
Fortune reported that as for why Twitter decided to sell Fabric is because the company made that decision because it is "focusing on our core products and businesses, to best position Twitter for long-term growth." The company also recently shut down its Vine video-sharing app, which had become popular with a wide range of creative users.
Fabric made its debut to many advertising sites in 2014 but is being discarded as Twitter CEO Jack Dorsey narrows Twitter's focus by suspending some initiatives which are the most high profile such as the video app Vine.
Know More About Fabric
On the blog posted by Fabric on their site, they are already claiming that their platform is joining Google. "When we launched Fabric in 2014, our goal was to provide the best tools to help developers create amazing apps. Since then, Fabric has evolved from a suite of tools for mobile developers to a powerful platform that helps entire teams build better apps, understand their users, and grow their business."
It is also said that in just 2 years, Fabric has grown to reach 2.5 billion active mobile devices. That is a big achievement for a starting company. Aside from that, it was mentioned that Fabric's Crashlytics and Answers kits were also recently recognized as the number 1 SDKs for app stability and analytics. "We are incredibly proud of the products we have built and grateful to this community of more than 580K passionate mobile developers."
