Apple wants to increase its stake in the world of social media.
The company is reportedly ready to make a huge investment in the growing market, but it doesn’t want to build something from the ground up.
It would be impossible to compete with the likes of Facebook and Twitter, so apparently the company is willing to dole out a bucket of money to the latter compay and become a strategic partner with the microblogging site.
It’s something that doesn’t really make front page news every day, but when you think about it, Apple doesn’t really have a great presence in social media. That is to say, it doesn’t have much business in that market; obviously its existence on Facebook and Twitter is big enough, but it doesn’t play a very active role in the social space.
If these reports are true, obviously Apple wants to change that.
According to a New York Times report, we’re not talking about a piddly investment. Apple has considered pouring in money to the tune of hundreds of millions of dollars.
The potential deal would place a value on Twitter of more than $10 billion. We all know Cupertino has a growing desire to play in all the hot markets in the world of consumer tech, so this is a logical step. Obviously, though, none of this discussion has been made public.
So for now, this is just something for the rumor mill. But given the source, we’re ready to believe it is real.