Google and Facebook covet Twitter acquisition
It has been reported that Facebook, Google and other companies have held talks with Twitter over a potential acquisition of the site, estimated to be worth as much as $10 billion.
The Wall Street Journal has reported that the microblogging site is seen as a still having a great deal of potential, despite only raising $45 million in revenue last year, which is expected to rise to between $100 million and $110 million this year, although it is understood that company has no interest in selling.
According to the Journal, Twitter’s recent growth in staff numbers is due to its belief by owners that it could become a $100 billion company one day.
Yesterday, The Drum reported that the city of San Francisco was altering its tax laws in a bid to tempt Twitter to move its headquarters there as it seeks larger premises.