Valleywag is reporting the rumour that Apple is close to sealing a deal to buy social networking site Twitter, for up to $700m. It seems far-fetched, truth be told.
“We hear it’s Apple that’s closest to sealing a deal, possibly for as much as $700 million,” the site reported. “A source who’s plugged into the Valley’s deal scene and has been recruited by Apple for a senior position says Apple and Twitter are in serious negotiations, with the goal of unveiling a deal by June 8, when Apple’s annual Worldwide Developers Conference launches in San Jose.”
Why far-fetched? Because everyone who has ever had a conversation in 140 chracters or less knows that Twitter is worth, like, 10 times that amount. Sure, it may not have any meaningful revenue just yet, but neither did WebVan or Boo.com, right?