On Tuesday, social media giant Twitter announced that it is buying Data as a Service (DaaS) provider Gnip for an undisclosed amount. Gnip, which is one of several companies that sell access to the firehose of the content posted on Twitter, was founded in 2008 and today offers data from a number of popular user-generated services in addition to Twitter.
Echo, best known for its online commenting tools, recently launched an ambitious service called StreamServer to aid brands in creating their own "white label" social media sites. Media brands like ESPN and Newsweek want to capitalize on the investment in their content. The problem is that the attention of consumers and lucrative revenue streams are focused on on social sites like Twitter and Facebook. Echo StreamServer API aims to tip the balance in favor of brands by offering the tools to forge scalable near real-time social sites of their own.