A report in the New York Times has suggested Twitter might even be on its shopping list, with the two companies apparently having had discussions about Apple making some kind of “strategic investment” in the microblogging site.
Apple’s own efforts to gain a foothold in social media, with its music-based Ping service, have so far proved fruitless.
A deal with Twitter, which currently has around 140 million active users, would certainly give it a step-up in the sector and, as the NYTimes points out, “would give Apple more access to Twitter’s deep understanding of the social Web.”
At a recent tech conference, Apple CEO Tim Cook said that while his company doesn’t necessarily need to own a social network, it does need to be social.
The NYTimes says that according to its source, Apple has been considering an investment of “hundreds of millions of dollars, one that could value Twitter at more than $10 billion, up from an $8.4 billion valuation last year.” However, the two companies are apparently not currently in talks and there is no indication of whether any serious progress was made in the initial discussions.
Apple acknowledged Twitter’s presence in October last year when it integrated the microblogging service into iOS 5. But that may be as close as Twitter wants to get. Any deal would bring it cash, but like Apple, it also has a fair bit of the stuff itself – “truckloads” according to its CEO, Dick Costolo – though of course nowhere near as much as Cook and his crew.
If a deal isn’t struck, both companies will live to see another day, though Apple strategists will be left to mull over other options in its quest to “be social.”
- Apple AR glasses: News and rumors about ‘Project Mirrorshades’
- Apple beats revenue forecast in first quarter, but iPhone sales took a hit
- Who to follow on Twitter if you want to understand tech
- Apple reportedly wants to become the Netflix of magazines via Apple News
- Is Spotify too big to fail? It just went public, so we’ll find out soon