Google Launches Twitter Takeover Bid

There are reports that Google may launch a takeover bid for Twitter, the micro-blogging site whose share value is now put at $1bn.

Google was identified as one of the two companies, believed to have contacted Twitter with “serious” interest.

The micro-blogging site has reportedly hired Goldman Sachs as an adviser to spurn the advances.

Ten-year-old Twitter has a market capitalization of more than $34 billion with 288 million monthly active users.

Google has a $60 billion cash pile and according to analysts, it has struggled so far in the social media arena against Facebook.

Like Microsoft is threatened by Google, so is Google threatened by Facebook which is doing a better job than any other internet company of competing with Google for user attention and ad revenues.

Google launched its own social network Google+ in 2011, but it is nowhere near Facebook in terms of user share and popularity.

The talk about Google being interested in buying Twitter are in the circulation for years and reports suggested that executives of both companies had held talks in 2011.

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