Facebook, Google talk about possible Twitter takeover according to Wall Street Journal
Google Inc., Facebook Inc., plus other companies, have held "low level" talks with Twitter for a possible takeover of the social networking site, according to Reuters. Citing The Wall Street Journal (WSJ), the report said the talks have gone nowhere and that all three Internet giants declined to comment.
"But what’s remarkable is the money that people familiar with the matter say frames the discussions with at least some potential suitors: an estimated valuation in the neighborhood of $8 billion to $10 billion," reports the WSJ.
However, according to the report, Twitter executives are in the process of building a large, independent company. "People familiar with the situation said the company believes it can grow into a $100-billion company," reports the WSJ.
Created in 2006, Twitter has 175 million users as of September 2010, according to Reuters. It is expected to generate about $150 million from advertising this year.