A Wall Street Journal story published last night has revealed that Apple considered investing in Twitter sometime last year. According to ?people familiar with the matter,? the talks never amounted to anything, and there are ?no current formal investment or acquisition discussions between the companies.? Though an investment is currently off the table,?Apple is said to have met with a number of social media start-ups recently to ?discuss product ideas?, according to WSJ.
The Wall Street Journal story debunked an earlier report published by The New York Times. Sources told The Times that talks were currently taking place between Apple and Twitter concerning a possible investment in the hundred million dollar range. Such an investment would have valued Twitter at $10 billion, up from their previous $8.4 billion valuation quoted last year. Since the Times story was published, numerous other sites have corroborated the Wall Street Journal report, confirming that Apple is not currently planning to invest in Twitter.
Apple has struggled to grab a foothold in the lucrative social networking space (remember Ping?). Though no investment was ever made, Apple has still managed to form a strong partnership with Twitter over the last few years. Twitter integration was built-in to last year?s iOS 5 release, and recently spread to the Mac with the launch of OS X Mountain Lion. In fact, the relationship between the two companies is so good that Twitter has assigned a VP to work full-time with Apple.
Apple and Twitter have not commented on the rumours.
Source:?The Wall Street Journal, The New York Times
Source: http://currenteditorials.com/2012/07/27/report-apple-considered-investing-in-twitter/
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