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Report: Facebook Tried to Buy Twitter for $500M in Stock
/ November 24, 2008 11:38 am

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.

 

Related Links:
http://snipurl.com/6p7zg (All Things D)

http://www.twitter.com

http://www.facebook.com


4 Comments

  • I think if facebook had to acquire Twitter, it could have been one of the best tie-ups in recent times, because both twitter and facebook are outstanding. But since the deal has fallen out, I guess we would have to settle for this and enjoy both of them seperately.

  • There were right not to sell , it is much more popular now.

  • Thank you for your invaluable help
    this information is very useful

  • That is a good strategy, that allows twitter to grow more and be of more value for those interested in buying it. In the meantime their name keeps on making a good name on the cyberspace.

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