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NEWS
Holy Twit! Twitter up for sale for $10 billion?
11 February 2011
Is Twitter on the market? It’s been reported the micro-blogging network recently engaged with talks with both Facebook and Google about a possible buy-out.
According to The Wall Street Journal, it's still early days and there has been no progress since some recent preliminary meetings. It also reports that the estimated industry price tag bandied around in the meetings was a staggering US$8-10 billion. Start saving now.
As it’s a private company, it doesn’t disclose its revenues. According to the Wall Street Journal, its estimated revenue this year will be in the ballpark of US$100-110 million thanks to new advertising initiatives like Promoted Tweets.
After launching in 2006, Twitter now boasts 175 million registered users worldwide, who send 95 million tweets a day.
More news as it happens.
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