Twitter purchases Tumblr rival, Posterous

Twitter have recently acquired fellow microblogging site Posterous, who are a rival of popular website Tumblr, however Twitter have said that the website will continue to run uninterrupted.

Posterous, founded in 2008 by Sachin Agarwal, allows users to update short blog posts with text and photographic content, similar to Tumblr. You’re even able to update your blog via email.

A statement by Twitter recently said that Posterous “has built an innovative product that makes sharing across the web and mobile devices simple—a goal we share. Posterous engineers, product managers and others will join our teams working on several key initiatives that will make Twitter even better.”

Currently no financial details have been disclosed regarding the purchase by Twitter, however it couldn’t have been cheap!

The CEO and Founder of Posterous, Sachin Agarwal, wrote on his blog that “this is one of the greatest days of my entire life,” and we wouldn’t doubt that for one second because, afterall, his company was just bought by the second largest social network in the world!

Do you use Posterous? Let us know in the comments, or on Facebook and Twitter.