Looks like they have some sort of event coordinating app called Frenzy. Which is basically just phone alerts for when people are trying to start a flashmob-style event. https://getfrenzy.com/

And they have something else that just looks like Snapchat-style image overlays/editing called WYD. https://itswyd.com

The name of this sounds like a blatant rip-off of the "Verb, it's what you do" public health campaign in the US. Changed just barely enough to cover themselves from getting sued. https://www.cdc.gov/youthcampaign/index.htm

It also only has 41 likes on the app Facebook page.

Unless there is some IP or hires that they wanted to snatch up, there doesn't appear to be anything of value that couldn't probably be done cheaper in house at Twitter. This seems incredibly frivolous.