San Francisco-based Topsy mines data from social networks, specifically feeds from microblogging service Twitter, for insights into customer sentiment, according to the report.
Poornima Gupta writes that industry watchers speculating over Apple’s motivations touched on possible plans to integrate the function into a future product or use the information to drive iTunes Radio content and fine-tune its online App Store.
Reuters reports that other media outlets pegged Apple’s latest investment at $200 million, while the company would only confirm the deal.
“Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans,” spokeswoman Kristin Huguet said.
Startup tech firm Topsy, as a Twitter partner for several years, has indexed billions of tweets in an effort to make them easy to search for, Gupta reports.