social media platform Twitter Inc TWTR registered a new brand for a new platform that may be launched soon. Here are the details.
What happened: twitter that could be acquired through Tesla Inc TSLA chairman Elon Muskfiled a new trademark on October 7, 2022 for “PEER.”
The trademark application was divided by trademark attorney Josh Gerben from Tanned law on twitter. The trademark application includes the following: “Downloadable software and mobile applications to provide users with information about workplace performance and allow users to provide feedback for others and view feedback about themselves; Downloadable software and mobile applications that allow users to rate and view the attributes and performance of others.”
Related link: Twitter Analyst Responds To Elon Musk Dodging ‘Game Of Thrones’ Court Battle: ‘Writing Was On The Wall’
Why it matters: 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 “tried to reinvent performance appraisals.” The company’s platform enabled continuous performance monitoring, similar to ride-sharing and grocery delivery services that allow reviews for each ride or delivery.
“Peer focuses on having honest conversations. I am very pleased that the team supports the efforts of the world’s largest conversational platform,” said Hu at the time of the acquisition.
Since the acquisition, Twitter has remained silent about its plans for Peer. With the new trademark filing, it seems 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.
