Facebook Tries to Buy Twitter, Thinks Status Updates are Very Important

Facebook recently initiated acquisition talks with Twitter for $500 million in Facebook stock, but those talks fell apart as recently as three weeks ago, Kara Swisher reports.

Execs at Facebook, who have long been impressed with Twitter, were trying to make the purchase at Facebook’s $15 billion stock valuation. At the end of the day, Twitter investors were concerned about the valuation of Facebook’s stock, and weren’t ready to sell out to the first suitor when they believe Twitter has the potential to ride out the economic downturn.

Facebook CEO Mark Zuckerberg recently expressed his high view of Twitter when he said at the Web 2.0 conference that he was “really impressed by what they’ve done” and that Twitter has a “very elegant model.”

In separate interviews, Zuckerberg has commented publicly on how important he believes the “status update” feature is to the future of information sharing on Facebook. Instead of writing a few long blog posts, most people like posting many short status updates, broadcasting everything from their activity to their emotions, he has said several times.

When the Facebook redesign launched a couple months ago, the status update publisher was promoted to the top of the News Feed (home page), reflecting how important what some have called “micro-blogging” is in Facebook’s and Zuckerberg’s eyes.

For its part, Twitter continues to grow while continuing to invest in resolving the technical issues that plagued it earlier this year. Twitter has become an interesting communication platform in its own right, so it would not be surprising to see additional acquirers emerge for whom owning a communication utility might be strategic…

Social Media 101

Mediabistro Course

Social Media 101

Get hands-on social media training for beginners! Starting November 10, hear from our expert speakers on the  best practices for getting set up on the major social media platforms, how to create meaningful content, and engage with your audience across sites. Register now!

 

Leave a Reply

15 Responses to “Facebook Tries to Buy Twitter, Thinks Status Updates are Very Important”

  1. VOICE OVER says:

    Thanks for the great article. I enjoyed it!

  2. Social Media Marketing- Facebook Marketing has Gone to the Dogs! | SocialMediaBlogster.com says:

    [...] Facebook tries to buy Twitter [...]

  3. Krishna says:

    great, they are right. The acquisition will be fruitful.

  4. Dawn Marie says:

    Great article. I think Facebook’s interest in Twitter vindicates it as a necessary component to interpersonal communication, and points to the relationship development opportunities available through the social media channel. While Twitter is still an asynchronous medium, I think it mimics interpersonal communication more than any other computer mediated communication technology platform to date. I believe that is part of the appeal and success Twitter is facing. The ability for near-instantaneous responses aids in relational development thereby granting social value to the medium. While there is merit to developing relationships via Twitter, I hope that Twitter can maintain its integrity as a social medium and not morph solely into an advertising/promotional platform.

    In order for the business end of such relationship as proposed by Facebook to be profitable, there must be a social utility factor that is preserved for the end users. Conversations are two-sided in social media; traditional marketing tactics of feeding information instead of listening to what is being said, will have the adverse effect on the social media communicator. Information must be made available in such a way as to be informative and not overbearing. In this way, both the marketer and the consumer can discuss what the true brand identity is. Social media sites like Facebook have done a relatively good job at maintaining a balance between social utility and marketing and a marriage of sorts between Twitter and Facebook could prove successful.

    I believe at some point all computer mediated communication platforms will morph together and there will be a flow to it which will be beneficial for social media sites like Facebook, lucrative for innovative sites like Twitter, and useful to consumers who use these sites as a means of communicating.

  5. Inside Facebook » Evan Williams on Facebook’s Attempt to Buy Twitter says:

    [...] weeks ago, details emerged about Facebook’s failed attempts over recent weeks to acquire communication service Twitter. [...]

  6. Twitter CEO – The Road Ahead For Twitter… | Startup Meme - Technology Startup and Latest Tech News says:

    [...] heard couple of week’s ago, some news that Facebook would be buying out Twitter, but we never heard public comments from Twitter’s [...]

  7. What does your status update read? « Windchimes - a social media agency says:

    [...] like Facebook, LinkedIn, Google in Gtalk are offering it as a feature.  In fact Facebook even offered to buy out Twitter for that [...]

  8. Facebook Investor Details Recent Twitter Acquisition Attempt says:

    [...] months ago, reports surfaced that Facebook and Twitter were in discussions for a $500 million takeover, but couldn’t get a deal done. Today, early Facebook investor and board member Peter Thiel of [...]

  9. Facebook changes it’s homepage… Again « Random to Reason says:

    [...] something new for its users. The move on a twitter like feed has been expected as Facebook tried to buy Twitter a while [...]

  10. Zuckerberg Tweeting About the Future of Facebook @finkd says:

    [...] and Twitter may have held unsuccessful acquisition talks a few months ago, but that hasn’t stopped Facebook CEO Mark Zuckerberg from using Twitter [...]

  11. Social Source Commons Blog » Blog Archives » Facebook vs. Twitter for Nonprofits says:

    [...] which has gained increasing popularity among celebrities. Mark Zuckerberg, Facebook’s founder has expressed his feeling that status updates are going to be very important in the future of community [...]

  12. A Look At Recent Convergence Between Facebook and Twitter says:

    [...] since Twitter gained strong media coverage after a few months of solid growth. Having previously tried to buy Twitter, the suspicion has been that Facebook is adopting many of the features of the microblogging [...]

  13. How to use your status updates profitably? | Indian Social Media Landscape says:

    [...] like Facebook, LinkedIn, Google in Gtalk are offering it as a feature.  In fact Facebook even offered to buy out Twitter for that [...]

  14. Breaking: FriendFeed Acquired by Facebook says:

    [...] year, Facebook was in heavy discussions to acquire Twitter, but those talks fell through. Now, it will be the FriendFeed shareholders that will be exchanging [...]

  15. How a small change to Facebook could kill Twitter | Lava Row says:

    [...] nothing left. Make no mistake about it, these social networks are fierce competitors. Remember that Facebook attempted to acquire Twitter back in 2008, believing that status updates were vital to the future of information sharing. Twitter spurned [...]

Get the latest news in your inbox
interested in advertising with inside facebook?

Social Media Jobs
of the Day

Social Media Account Manager for Beauty PR Agency

Creative Media Marketing
New York, NY

Director of Digital Strategy

Beauty Public Relations Agency
New York, NY

Social Media Associate

Petrol Advertising
Burbank, CA

Social Media Manager

Aeon Media
San Francisco, CA

Account Executive- Healthcare PR and Social Media

Berry & Company Public Relations
New York, NY

Featured Company

Join leading companies like this one and recruit from the nation's top media job seekers on the Mediabistro Job Board. Every job post comes with our satisfaction guarantee. Learn More
 

Our Sponsors

Mediabistro A division of Prometheus Global Media home | site map | advertising/sponsorships | careers | contact us | help courses | browse jobs | freelancers | content | member benefits | reprints & permissions terms of use | privacy policy Copyright © 2014 Mediabistro Inc. call (212) 389-2000 or email us