According to Kara Swisher of All Things Digital, Facebook had talked for several weeks about buying micro-blogging site Twitter for $500 million in stock, and then gave up on the idea about three weeks ago.
The sticking point apparently was price — whether the deal valued Facebook shares too highly. “But, more important, it seems, was a feeling among Twitter investors and execs that the start-up should still take a shot at building its revenues-there are none right now-as well as it had done at building its growth,” Swisher writes.
But she notes that Twitter needs all the investors it can get, and while the lack of revenue was an issue for Facebook, it may revisit the deal at another time. “We’d hate to see Twitter go to another company,” like Google, Yahoo, Microsoft or Verizon, she said, citing an unnamed source.
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