Los Angeles – Facebook recently ended serious negotiations to acquire the Twitter microblogging service for $500 million in stock, All Things D reports.
The deal apparently collapsed over the price, and a desire by Twitter’s management and investors to further build its business and revenues.
"It’s more about timing," one person familiar with Twitter’s motivations told All Things D. "There is a strong feeling that there is still an opportunity — even with the economic downturn — to blow this thing out."
Launched in 2006, Twitter counts six million registered users, up 600% over the past year.
The company has raised $20 million to date, and was recently valued at $98 million.
http://snipurl.com/6p7zg (All Things D)