Social media platform Twitter has purchased Highly, a US-based online text highlighting software developer backed by media group Bloomberg, for an undisclosed amount.
Founded in 2014, Highly has built a platform that enables users to highlight and search sections of text from online news stories and blogs which can shared with friends and family through social media and messaging platforms.
The company’s paid products, such as Crowd Control and Highly for Teams, will henceforth be offered free to all users, though its iOS app and Highly for Slack product have been shut down following the acquisition.
Highly said its investors included Bloomberg ’s corporate venturing subsidiary, Bloomberg Beta, venture capital firm Resolute Ventures and Evan Williams, co-founder of Twitter and founder of blogging platform Medium.
The company has not disclosed details of its funding rounds, though Bascom Ventures, the VC fund established to invest in businesses associated with University of Wisconsin alumni, also lists it as a portfolio company.