Twitter goes on to raise its market value by swiftly making an acquisition of Posterous.
Posterous is largely known for its fantastic micro blogging website Posterous Spaces, which directly competes against another blogging site named Tumblr. Considering its web presence, Twitter has made a big move by investing a huge amount in Posterous. Market analysts believe that Twitter is completely acknowledging the human potential attached with Posterous who could develop an identical website for mobile platform. The company has not yet publicized the financial details related to the acquisition.
In a blog post, Twitter stated “Posterous engineers, product managers and others will join our teams working on several key initiatives that will make Twitter even better.” For the time being, the Posterous website will work without any interruptions. And in coming months, Twitter will send out specific directions for users to help them in making proper backups through alternate services.