According to different reports, Twitter was in final talks to acquire ZipDial last week. Today the company confirmed about the acquisition of ZipDial and the deal closed between $30 million to $40 million.
ZipDial allows users to call a special business phone number, hang up before they apply a charge and then the user receives an SMS or phone call with the business information. "Missed call" marketing enables people to get basic business information for free, which can be of great use for the regions around the world where people cannot afford the calls due to the data plans.
Twitter said about the deal "For many, their first online experience will be on a mobile device - but the cost of data may prevent them from experiencing the true power of the Internet. Twitter, in partnership with ZipDial, can make great content more accessible to everyone."
ZipDial was founded in 2010, they didn't disclose the volume of its funding, but had taken three significant rounds from Mumbai Angels, 500 Startups, Times Internet, and Jungle Ventures. CEO Valerie Wagoner has led the company to sign major fortune 500 brands as customers.
Beyond allowing missed call connections to businesses, Twitter explains it was attracted to ZipDial's other use cases, such as to "access great content, including cricket scores, audio programming and much more - on their mobile phones. Leading figures, including actors, politicians and athletes, also use the platform to instantly reach millions of citizens on Twitter through text and voice messages."
The mission of both ZipDial's and Twitter's are closely similar to each other, delivering the information to the people in a simple and quick way. A tweet from Twitter described the deal:
It indicates that Twiter will use ZipDial to deliver itself to feature phones and others where internet connection is not much reliable. Other companies like Facebook and Google are exploring different ways to get those without internet connected to their services.