The following is an excerpt from Dan Farber | July 27, 2012 | cbsnews.com |
Is Apple planning to spend some of its $117 billion cash hoard on an investment in Twitter? The New York Times reports that the two companies have talked in recent months, but they are not in talks at this time. Apple could potentially invest several hundred million dollars into Twitter, which has already gathered close to $1 billion in funding.
Twitter has plenty of cash, and is expected to generate about $300 million in mostly advertising sales this year. CEO Dick Costolo has said that IPO doesn’t occupy his thoughts much. “I just don’t worry about that stuff…if you wait until the business and business results speak for themselves, you can be a public company on your own terms.”
An Apple investment would be strategic in the sense of having a closer relationship with the Twitter juggernaut, which has about 140 million….
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