Executives at Google and Facebook are reportedly engaged in “low-level talks” with Twitter about a possible acquisition of the micro blogging site.
“The talks have so far gone nowhere, [sources close to the deal] say,” reported the WSJ.
Twitter has garnered major mainstream success in the past years, with ad revenue in 2011 expected to hit a very respectable $150 million.
In addition, the site remains on target to generate as $250 million in ad revenue by 2012, making it an extremely lucrative acquisition for search engine giant Google or mega social networking site Facebook.
Last year, Twitter received $200 milllion in funding to help fuel its continued growth, which placed the company at a valuation of $3.7 billion.
Of course, with stats pointing towards enormous growth as well as profit, talks and rumors of acquisition by a major corporation now seem like a more viable option.
(VIa AFP)
