Company’s value shoots up to $10bn
Companies including Google and Facebook have reportedly held primary level takeover talks with Twitter that has shot up the micro-blogging site’s value to as high as $10bn.
In December last year, Twitter raised $200m in financing in a deal that valued it at $3.7bn.
The Wall Street Journal reported that executives at Facebook and Google have held "low level" talks with those at Twitter in recent months about a possible takeover of the microblogging site.
The report said, "But what’s remarkable is the money that people familiar with the matter say frames the discussions with at least some potential suitors; an estimated valuation in the neighborhood of $8bn to $10bn."
It added that despite the talks, Twitter was working on ways to translate its more than 200 million registered users into a profitable business.
Twitter was created in 2006, but it introduced advertising into its service only last year.
Twitter has declined to comment on its finances, valuations and takeover talks. Google and Facebook also declined to comment.