According to the New York Times, Apple has approached Twitter about possibly investing in the microblogging company valued in the “hundreds of millions” of dollars. In a recent report, the NYT said people briefed on the matter, claiming Apple has been in talks with the social media network over the past few months, though the publication was quick to point out that negotiations may not result in an agreement. The NYT report mentioned the following:
Apple has considered an investment in the hundreds of millions of dollars, one that could value Twitter at more than $10 billion, up from an $8.4 billion valuation last year, these people said. They declined to be named because the discussions were private.
Some people continue to speculate that the talks may be in response to Google’s efforts to push Google+ as well as rumors that Facebook may be entering the handset market in the near future. The Cupertino California company has dabbled in social media with its Ping social music network, whose success was non-existent. In the past, Facebook was purportedly close to reaching a deal with Apple over Ping integration but negotiations ultimately fell through over what was deemed “onerous terms.” Early versions of Ping had evidence of Facebook Connect connectivity but the features were nowhere to be found upon the service’s debut. In June, Apple announced Facebook integration in iOS 6 at this year’s WWDC, which will be implemented in a way similar to Twitter’s current tie-in to the mobile operating system.
The whole ordeal is probably part of Apple’s efforts to “go social” which is something CEO, Tim Cook, said the company was looking to do. At this year’s D10 conference, Cook said “Apple doesn’t have to own a social network. But does Apple have to be social? Yes.” Apple took Twitter cross-platform recently after expanding the functionality to OS X Mountain Lion. As far as Twitter goes, the company has yet to go public and reportedly has roughly $600 million in the bank on strong advertising revenue and $1 billion in accumulated financing. The company is said to make an initial public offering in the coming years, although the rumors don’t have hard evidence.
When asked to comment on the matter, both Apple and Twitter declined.
Source: The New York Times