The popular social network Twitter having been facing internal issues, for long, on products and how its employees work to set it right. Keeping in mind to improve the problematic issues, the company has acquired a start-up TenXer, a platform for developers and engineers to work and co-exist better.
The news was confirmed via a tweet and also confirmed the acquisition directly with TenXer CEO and co-founder Jeff Ma. This start-up run by one of the card-counting phenoms was the source of inspiration for the blackjack movie ’21’ that was released in 2008.
TenXer, founded in 2011, served data-driven management instruments for engineers and their managers to improve their work and productivity. TenXer became the order of the day for many big tech companies in all markets. The company has raised $4.7 million in funding from many investors like True Ventures, Radar Partners and Khosla Ventures.
“When we first started tenXer, our goal was to improve the way people worked by using data and analytics to increase transparency and visibility,” said Ma in a farewell note to its current customers. The service would not be available to users after the end of the week, with refunds on its way to pay its customers. Financial terms of the deal are not out but sources suggest the deal is valued to be $50 million.
Twitter, as mentioned earlier, has had continuous coordination trouble within the engineers and product managers. With more than 1500 engineers, the company plans to apply the start-up’s technology to improve productivity and assist managers in taking better effective decisions through increased transparency, said a person familiar with the matter.
It was expected that the company may plans to implement TenXer technology to outsiders but sources suggest the company doesn’t have plans to make Tenxer’s technology made available to outside app developers via its Fabric platform. One interesting information is CEO of TenXer, Ma, who specilaizes in predictive analytics will soon join Twitter team along with two TenXer engineers who will join the engineers team.