At this past September’s TechCrunch Disrupt conference, Google CEO Eric Schmidt was asked whether the search giant was considering buying Twitter. Schmidt declined to answer, but did suggest the micro-blogging platform had huge potential to monetize with products “that are very lucrative.”
That may have been some indication of Google’s interest in acquiring the company, but don’t assume Twitter is flirting back. Co-founder Biz Stone said this week that Twitter is not for sale--even if it was offered $4 billion or $5 billion.
Stone explained that Twitter is not ready for such a move, and that its priority is to prove itself as a financially viable company, reports TechEye.
And according to Business Insider, Google has already offered to purchase the service for between $2.5 billion and $4 billion. But Stone and Twitter didn’t bite, even though its latest valuation is rumored to be around $3 billion.
Facebook faced similar acquisition attempts, and it’s a good thing Zuckerberg held out. Back in 2006, Facebook turned down offers in the region of of $750 million before Yahoo upped the ante to $1 billion. Facebook is now valued in the tens of billions.
Facebook also attempted to purchase Twitter back in 2008, but Twitter declined the $500 million offer. The question now is whether Twitter’s valuation will continue to blossom beyond the low billions.