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Apple Has Talked to Twitter about Investment: NYT
It might help that Twitter’s CFO Ali Rowghani comes from Pixar where he worked directly with Pixar co-founder Steve Jobs
By: Maureen O'Gara
Jul. 30, 2012 03:24 PM
At sometime in the last few months Apple talked to Twitter about making a strategic investment in the social networking firm, according to a story that ran in the New York Times last Friday and has subsequently gotten a lot of play.
It says that if they ever come to terms - and they're not talking now - Twitter's valuation could be upped from $8.4 billion last year to over $10 billion.
It's not that Twitter, which is reportedly contemplating an IPO in the next couple of years, needs the money. It's gotten something like a billion dollar in funding and is said to have $600 million in the bank. It's also reportedly got "healthy" ad revenues. But it would benefit from the "glow of a close relationship with a technology icon," the paper said, bolstering its valuation in the light of Facebook's poor showing since it went public. And Apple would benefit from Twitter's "deep understanding of the social web" lest it fall behind.
It might help that Twitter's CFO Ali Rowghani comes from Pixar where he worked directly with Pixar co-founder Steve Jobs.
Apple, which supposedly doesn't have social media in its NDA, tried to cozy up to the Microsoft-aligned Facebook back in 2010 thinking to integrate its Ping music-centric social network with Facebook. Negotiations failed. Jobs said Facebook's demands were "onerous." Apple stalked off and handed an integration deal to Twitter.
In an attempt to look social, Apple has tightly integrated Twitter features into its phones, tablets and computers. Twitter, in turn, which reportedly prizes its relationship with Apple, has assigned a vice-president to cater to Apple full-time.
Twitter has some 140 million active users. It's reportedly expecting to do a billion in sales in 2014. It will have to make a big push now to reach that bogie.
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