Twitter in acquisition talk with FB, Google: Report
Twitter has discussed the prospect of acquisition with Google and Facebook.
Washington: Microblogging sensation Twitter has discussed the prospect of acquisition with Internet titans Google and Facebook, the Wall Street Journal said today.
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 USD 8 billion and USD 10 billion.
It is expected to rake in USD 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 USD 45 million, and could reach as high as USD 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 USD 200 million in funding from investors to help fuel its growth, reportedly giving the San Francisco-based company a current valuation of USD 3.7 billion.