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April 03, 2021

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.



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