Facebook has failed in its bid to acquire Twitter for $500 million in stock following several weeks of intensive discussion, Kara Swisher reports for D: All Things Digital.
A deal between the two companies has been whispered of for weeks, but there was in fact meat on rumour’s bone, the report informs. Discussions began at the behest of Facebook in mid-October, the report informs.
It seems Twitter investors were shy of taking compensation purely in Facebook stock, while the general consensus within the company was to let it remain independent for a while longer while the firm focuses on the creation of revenue streams.
New Twitter registrations were up 600 per cent year-on-year, meaning investors in the popular service suspect they may be on the leading edge for growth – and future financial reward could dwarf the “true” value of Facebook’s $500 million bid.
November 25th, 2008 at 10:15 am
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