Facebook Tries to Buy Twitter, Thinks Status Updates are Very Important
Facebook recently initiated acquisition talks with Twitter for $500 million in Facebook stock, but those talks fell apart as recently as three weeks ago, Kara Swisher reports.
Execs at Facebook, who have long been impressed with Twitter, were trying to make the purchase at Facebook’s $15 billion stock valuation. At the end of the day, Twitter investors were concerned about the valuation of Facebook’s stock, and weren’t ready to sell out to the first suitor when they believe Twitter has the potential to ride out the economic downturn.
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