Meerkat seemed to be all the rage at SXSW this year, but now it faces some stiff competition in the form of Periscope, the newly-acquired live-streaming startup purchased by Twitter for $100 million USD. In the frenzy of social media, Periscope provides an instant way to deliver live video content to followers via Twitter, allowing users to engage with their fanbase in real time. Touted as a more polished version of Meerkat, Pericsope lets users save and replay live streams, broadcast to a specific audience, and collect “hearts” from viewers – functionalities Meerkat doesn’t offer. The Periscope app is available as a free download for iOS devices from Apple’s iTunes Store.

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