Twitter shares boosted by Google acquisition rumour
A full £1bn has reportedly been added to the value of social network Twitter on the back of rumours that Google is upping its attempts to purchase the service.
Following reports that Twitter had hired Goldman Sachs to advise and mediate bids for the social network which boasts 288 million active monthly users, Twitter shares jumped 4.8 per cent on Tuesday, according to the Telegraph.
Decade-old Twitter has outshone Google’s own service, Google+ which launched in 2011. It has struggled to gain leverage as social media continues to be dominated by Facebook and Twitter supplemented by a flourishing app market featuring the likes of Vine, Snapchat, Instagram, Pinterest and more.
As a result, Google recently announced that it is looking to break up into ‘Photos and ‘Streams’ apps to provide mobile users with specific services on smartphone and tablet platforms.
This comes after Twitter announced its intentions to become “the Google of mobile” in October during the launch of mobile dev tool, Fabric.
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