Google in talks to buy Twitter: report
By Joe Lee, Sympatico / MSN Finance
Internet search giant Google Inc. may be in late-stage talks to acquire star Web newbie Twitter.
Citing people familiar with the negotiation, TechCrunch said Google may be buying Twitter, the free micro-blogging service that allows its users to text messages and links to followers (a network of friends), for an amount north of $250 million but below $500 million.
In a TechCrunch article, blogger Michael Arrington said the two Internet stars will also consider working together on a Google real-time search engine.
Twitter turned down Facebook’s $500-million offer a few months ago, but Mr. Arrington said the online blogging sensation may find Google’s offer, which may combine both cash and stock, more attractive.
This latest rumour comes only a month after Google CEO Erich Schmidt called Twitter a "poor man's e-mail system" at the Morgan Stanley Technology Conference.
San Francisco-based Twitter has enjoyed a dizzying surge in popularity since its creation in 2006, but the company so far has failed to generate any revenue.
According to recent reports, Twitter co-founder Biz Stone has stated that his company remains focused on growth and will find ways to pump cash in the fast-growing free service.
Twitter claims it has more than 6 million users worldwide -- a growth rate of 900% in the past year.
Posted by: Jack Zufelt | Apr 7, 2009 9:51:50 AM
It'll be interesting to see if Twitter takes any steps to monetize.