Microblogging platform Twitter has acquired social media app Squad. Sqaud lets people hang out with friends via video chat and screen-sharing. The Squad app will shut down on Saturday and the users have already been notified about this.

"Excited to share that the @squad team is joining @Twitter to help us bring new ways for people to interact, express themselves, and join in the public conversation," Twitter's VP of product, Ilya Brown, said in a tweet on Friday.

Squad's talented team "brings a deep understanding of how people participate in interactive audio and video conversations – an important pillar in the spectrum of conversations we're looking to serve on Twitter", Brown added.

There were media reports that Twitter may shut down its live-streaming service Periscope after the Squad acquisition for which financial details were not disclosed.

Squad's co-founders, CEO Esther Crawford and CTO Ethan Sutin will join the Twitter team.

The Squad team will join Twitter's product, design, and engineering teams and help accelerate "our work to bring people new and creative tools to start and join conversations on the service".

Squad raised $7.2 million in venture capital from first round and according to Crawford, the usage of the app saw a massive spike during the pandemic.

*Edited from an IANS report