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Feb 10 11

Twitter acquisition talk with internet giants

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Twitter has discussed the prospect of acquisition with Internet giants Google and Facebook, reports say.

 

Microblogging sensation Twitter has discussed the prospect of acquisition with Internet giants Google and Facebook, the Wall Street Journal said today.

Executives at both the emminent search engine and social networking giant have met 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 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 $150m in advertising revenue in 2011, according to a study by a digital research firm released last month. Last year ad spending on Twitter was an estimated $45m, and could reach as high as $250m by 2012.

Twitter’s 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 $200m 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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Tags: social media, Social Network, Social networking, Twitter

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