Social media platform Twitter Inc TWTR filed a new trademark for a new platform that it might launch soon. Here are the details.
What Happened: Twitter, which could be acquired by Tesla Inc TSLA CEO Elon Musk, filed a new trademark on Oct. 7, 2022, for “PEER.”
The trademark filing was shared by trademark attorney Josh Gerben of Gerben Law on Twitter. The trademark filing covers the following: “Downloadable software and mobile applications for providing information about workplace performance to users and enabling users to leave feedback for others and view feedback about themselves; downloadable software and mobile applications that enable users to rate and view the attributes and performance of others.”
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Why It’s Important: In 2016, Twitter acquired Peer, a company that had an employee and manager feedback tool. Peer was founded by former Salesforce Inc CRM COO George Hu.
According to Venture Beat, Peer “sought to reinvent performance reviews.” The company’s platform allowed continuous performance monitoring, similar to ride-share companies and food delivery companies that allow ratings on each ride or delivery.
“Peer is focused on driving honest conversations. Excited to see the team support the efforts of the world’s greatest conversation platform,” Hu said at the time of the acquisition.
Since the acquisition, Twitter has been quiet about its plans for Peer. With the new trademark filing, it appears that an old acquisition could be turned into a new tool and potential subscription offering in the future.
TWTR Price Action: Twitter shares closed at $49.94 on Wednesday.
Image and article originally from www.benzinga.com. Read the original article here.