Facebook looking to acquire Twitter for up to $767 million – reports

Facebook CEO Mark Zuckerberg is looking to acquire Twitter for up to $767 million. The negotiations put a valuation of as much as $US500 million ($767 million) on Twitter, which has become one of Silicon Valley's most closely watched start-ups, the paper said. The talks, which were first reported by technology news website AllThingsD, were confirmed to the paper by two sources. Facebook offered to pay for the acquisition in stock, the paper said, citing a person close to the situation. Putting a value on Twitter's shares proved controversial, according to the Financial Times Microsoft bought a stake in Facebook last year which placed the total value of the social network at $23 billion. Using this valuation, Facebook's offer placed the Twitter purchase at $767 million – although that investment is seen as a high water-mark for Web 2.0. The $23 billion valuation for Facebook was the top end of a range of values the two companies talked about, a source told the paper, implying that a deal might have valued both Facebook and Twitter at a much lower level. Biz Stone, Twitter's co-founder, would not comment on the talks, but suggested that the company wanted to remain independent to build on its messaging service.