Betaworks Made ~$50 Million On Two Twitter Acquisitions, Summize And Tweetdeck

John BorthwickJohn Borthwick, Betaworks

Betaworks is a New York company that produces other companies. It rounds up hackers, designers and founders and tests multiple startup ideas at once, such as hot iPhone game Dots and a GIF search engine.

But Betaworks is not a venture capital fund. So how does it have the money to produce big hits? Recently, a few acquisitions have helped fuel it.

According to Ben Popper at the Verge, two startups Betaworks was involved in, Summize and Tweetdeck, yielded Betaworks $50 million in cash and stock. Summize was acquired for $15 million by Twitter in 2008; Tweetdeck for $40 million in 2011.

In 2008, Twitter was worth about $150 million. Now it’s worth multiple billions.

Betaworks also made a good chunk of change with its investments in Groupon, OMGPOP (which was acquired by Zynga) and Tumblr.

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