Twitter acquisition talk with Facebook, Google: report
Friday 11 February 2011
Microblogging sensation Twitter has discussed the prospect of acquisition with Internet titans Google and Facebook, the Wall Street Journal said Thursday.
Executives at both the emminent search engine and social networking giant have met with Twitter for what the Journal called "low-level talks" on the possibility of an acquisition deal, the financial daily said, citing people close to the situation.
"The talks have so far gone nowhere, these people say," added the Journal.
The website, in which users post messages of 140 characters or less, has soared in popularity in recent years, and according to the Journal its valuation for potential suitors would be between $8 billion and $10 billion.
It is expected to rake in $150 million in advertising revenue in 2011, according to a study by digital research firm eMarketer released last month.
Last year ad spending on Twitter was an estimated $45 million, and could reach as high as $250 million by 2012.
Twitter chief executive Dick Costolo has previously said that Twitter, which has fended off several buyers, intends to remain an independent company and is not considering going public.
Twitter late last year received an injection of $200 million in funding from investors to help fuel its growth, reportedly giving the San Francisco-based company a current valuation of $3.7 billion.
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