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Details Emerge On Facebook's Failed Twitter Bid

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If you use Facebook there's a decent chance you may use, or at least have heard of, Twitter. If you use Twitter you'll invariably use Facebook, so a union makes sense - or does it?

According to All Things Digital, a $500m offer for the mico blogging app has finally been abandoned by everyone's (supposedly college educated) favourite social networking site. Perhaps most interestingly however is why...

Well it turns out that the tidy sum Facebook was offering (seemingly not a bad deal for a company which only launched in 2006) was actually $500m worth of Facebook stock. Ahhh. Yep, in a time when red brick stock values are tumbling at a comparable rate to flash memory is it really wise to invest in the ad-bereft Web 2.0 business model which is widely anticipated to be .com bubble burst 2.0?

No, guys who can build a half billion dollar site so quickly know better and that's without even getting into the fact the two - while overlapping significantly - remain very different beasts. After all, you may have added that kid you hated from school to your Facebook 'friends' but do you really want to be part of a service designed solely for instant messaging one another?

Talk is the deal between Facebook and Twitter may still be resurrected, but personally I'm praying for no second coming on this one...

Link:
via All Things D

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