Twitter in acquisition talks

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

Executives at both the eminent search engine and social networking giant have met Twitter for what the Journal called “low-level talks” on the possibility of an acquisition deal, said the financial daily, citing people close to the situation.

“The talks have so far gone nowhere, these people say,” it said.

The website 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.

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 valuation of $3.7 billion. — AFP



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