Facebook Bid For Twitter Rejected
Talks over Facebook’s $500m stock offer for Twitter have broken down, partly because Facebook’s ‘paper value’ has probably dropped considerably in recent downturn. For the time being at least, any deal appears to be dead.
Twitter is the current Web darling, and there is a spate of third-party development going on to produce Twitter related apps and tools. Twitter’s owners probably believe that their tool has a mass of unexploited potential growth in it yet, and would be unwilling to hand that potential goldine on to someone else.
Having said that, Twitter still suffers from technical issues due to its rapid growth so don’t be surprised if a more ‘hands-off’ type deal is reached with soemone other than Facebook – the big G would almost certainly be interested in adding Twitter to their world domination stable.
