Apple looking to get piece of Twitter pie?

Comment on this story
iol scitech aug 29 Tim Cook pic AP Tim Cook, who succeeded the late Steve Jobs as Apple's CEO in 2011.

London - Technology giant Apple considered pouring hundreds of millions of dollars into the microblogging service Twitter, according to reports in the US this weekend.

The iPhone and iPad maker, which is the world’s biggest company by market value, has not previously made any major forays into social media. The deal would have valued Twitter at around $10bn and it would also have signalled Apple’s eventual intention to take on Facebook.

The investment would also have shown that Apple boss Tim Cook was keen to step out of the shadow of his predecessor, Steve Jobs, who died last year. However, though talks have taken place in recent months, no negotiations are currently taking place.

Twitter has 140 million users, but has struggled to commercialise the business. Facebook has more successfully brought in advertising revenue, though its stock has slumped by more than one-third since its $100bn stock market debut in May and last week it announced slowed revenue growth.

On Friday, Apple announced that it was going to buy Authen Tec, which develops sensors to read fingerprints, for $356m. That technology would be used to improve security on Apple’s array of popular smartphones and tablet computers.

Earlier in the week, Apple also revealed that its growth had suffered in the latest quarter. - The Independent on Sunday

Hungry for more scitech news? Sign up for our daily newsletter

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines