According to a New York Times brief on Friday, Apple Inc.(NASDAQ:AAPL) is considering the possibility of investing a considerable sum in Twitter, in order to magnify their presence in the social media. Previously, Apple had not tested the waters of the social media, which is dominated by Facebook. However, they had discussed an investment that would put the value of the microblogging service at 10 billion dollars.
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There has been no response from Apple as of yet and even Twitter has maintained a silence when asked about the deal. New York Times predicts that the “no-comment” tactic indicates close negotiations between both parties. Apple, used to buy startups and smaller firms for the purpose of acquiring technologies, but on Friday, it paid a whopping 356 million dollars to buy mobile security specialist AuthenTec.
Twitter, as most of us are already familiar with, is a social networking platform that has about 140 million users all over the world is being prepped up to be incorporated into Apple products like smartphones and tablets. Users will soon be able to access the site easily from mobile devices with enhanced functionalities.
The newspaper did not state any reason why one of the leading technology corporations in the world, would want to get a piece of the social networking pie, when it is more popular for designing and developing hardware.
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Twitter executives however, are ‘tweeting” a different story. They have clearly stated on multiple occasions that they are not in any rush to get additional funds from both private and public markets as they are extremely sound when it comes to finances as of now. This company was once a favorable name as an IPO but it is now desperately trying to wean some cash off the huge amount of traffic that it gets on a daily basis.