Apple Officials Said to Consider Stake in TwitterApple, which has stumbled in its efforts to get into social media, has talked with Twitter in recent months about making a strategic investment in it, according to people briefed on the matter. 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.
Apple has not made many friends in social media. Its relationship with Facebook, for example, has been strained since a deal to build Facebook features into Ping, Apple’s music-centric social network, fell apart. Facebook is also aligned with Microsoft, which owns a small stake in it. And Google, an Apple rival in the phone market, has been pushing its own social network, Google Plus. “Apple doesn’t have to own a social network,” Timothy D. Cook, Apple’s chief executive, said at a recent technology conference. “But does Apple need to be social? Yes.”
Posted by | Sat, Jul 28, 2012 - 09:33 PM