Niche acquisition to help users make money: Twitter chief Costolo

Twitter Inc's acquisition of Niche Project Inc would help users of the social-media company's Vine video service get advertising revenue from the short clips they produce, Bloomberg reported quoting  Twitter chief executive officer Dick Costolo.

''It's absolutely the very beginning of providing monetisation opportunities to the Viners,'' Costolo said in an interview with Bloomberg TV. ''It's just going to be awesome for the brands who want to leverage the great work these Viners do to create stories.''

The micro-blogging network bought Niche for around $30 million, according to a person with knowledge of the matter, who requested not be identified as the terms were private.

The deal would allow Twitter to link advertisers directly to people who understood how to make content go viral on Vine, Twitter's six-second video-streaming service, and Google Inc's YouTube, which also hosted video creators that worked with Niche.