If you think that Twitter hasn’t hit the big time yet, then thereports of fundingshould have been enough to change your mind. But if that’s not done the trick thena recent reportfrom The Wall Street Journal is likely to have your jaw hit the floor.
According to the WSJ, Twitter has been in “low-level talks” of an acquisition, with a valuation between $8 and 10 billion. Yes, that’s with a very big B. With a 2010 revenue of “only” $45 million, the money seems absurd. But putting it into perspective shines a new light on the subject.
Twitter is one of the fastest-growing platforms in the world right now. With adding Korean to its localization, the service now totals 7 different languages and its growth has skyrocketed in the past year. Add to that the fact that it continues to add more staff on a near-daily basis plus its acquisitions of other talent and companies and Twitter’s long-term goal makes sense.
The Journal reports that Twitter believes that it can turn itself into a $100 billion company, surpassing the current valuation of Facebook. It also wasn’t long ago that co-founder Biz Stone said in no uncertain terms that Twitterwouldn’t be sellingfor a now-paltry-sounding sum of $5 billion.
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Twitter has continued to push itself forward. From its humble start as a mere way to share 140 characters, it continues to work toward its stated goal of proving itself to bea platformrather than an end product.
Under the watchful eyes of present CEO Dick Costolo, Twitter is setting itself up to be arevenue magnet. It’s already expecting a 2011 revenue of over $100 million, though the actual profit will be interesting to say the least.
It’s worth noting that, even if the talks of acquisition have happened, nothing has come from them. The names Google and Facebook have both come up as rumored interested buyers, but Twitter seems dead set on not moving away from its independence.
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Story byBrad McCarty
A music and tech junkie who calls Nashville home, Brad is the Director TNW Academy. You can follow him on Twitter @BradMcCarty.(show all)A music and tech junkie who calls Nashville home, Brad is the DirectorTNW Academy. You can follow him on Twitter@BradMcCarty.
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