Apple Inc. (AAPL) Buys TV Startup Matcha

Updated on

Apple Inc. (NASDAQ:AAPL) just acquired, a second-screen television and video startup that was recently shut down. This former iOS app was designed to offer a complete overview of everything that’s available to watch on cable television, video streaming services, and digital video stores. This app also allowed users to manage what they’ve watched with the universal queue, receive video recommendations, as well as connect to social networks to find what shows your friends are watching.

Apple Inc. (AAPL) Buys TV Startup Matcha

Tom Cheredar for Venture Beat reports, “the service shut down back in May with little explanation. CEO Guy Piekarz previously told TechCrunch that the service wasn’t gone for good, but instead would be working on a new direction.”

Apple not sharing plans for yet

Apple Inc. (NASDAQ:AAPL) purchased for about $1 to $1.5 million but the final amount could have been higher, especially considering that the website was seeing some growth and was ranked as the top 15 entertainment applications mentioned in the App Store. Apple Inc. (NASDAQ:AAPL) isn’t sharing their plans as what to do with the startup.

The Telegraph added, “Apple Inc. (NASDAQ:AAPL) refused to comment on the reported purchase directly, only telling the site: “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.” It is unclear at this stage what the Californian company plans to do with the app, though analysts have suggested it will be used to boost its video recommendations service, drawing users away from Netflix, Inc. (NASDAQ:NFLX).”

There have been numerous reports that Apple Inc. (NASDAQ:AAPL) would eventually change the television industry. Although the company already has a television box (Apple TV) which basically allows viewers to stream and watch movies on television, there is a lot of speculation that Apple Inc. (NASDAQ:AAPL) has something bigger planned for the near future. Whether it will be an improved television box or an actual television set remains to be seen. For now, the company seems focused on their upcoming iPhone 5S.


Leave a Comment