After a dismal winter, the social media company's shares spiked after it announced the hire of Google Maps head Daniel Graf as its new Vice President of Consumer Product.
Twitter shares rose more than 11% Tuesday after the company announced a key new hire and acquired a social data company.
Daniel Graf, who previously headed up Google Maps project, will be Twitter’s new vice president of consumer product. Graf oversaw Google’s popular Maps app on the iPhone after Apple introduced a rival product in 2012.
Twitter also announced the purchase of Gnip, which it paid an undisclosed sum for, Reuters reports. The Colorado company already works closely with Twitter as one of its “Certified Partner Products,” mining the microblogging service’s massive amounts of data.
Twitter shares have slumped since December, when they hit $73 a share. Even with the latest bump, the social media company is still more than 43% below that price.
The acquisition of Gnip suggests Twitter is investing in, among other priorities, its advertising services, CNBC reports.