Watch out Meerkat

It looks like Twitter bought livestreaming app Periscope weeks ago, before competitor Meerkat went viral. Two outlets, Business Insider and Re/code, are reporting the news from their respective anonymous sources, but there’s no word on how much the deal closed for or confirmation from Twitter (I’ll update if I hear back). Periscope is still in private beta, but was rumored to have the same livestreaming capabilities that made Meerkat┬áspread virally.

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