Twitter Buyout Coming?
Today’s big news is rumors of a Twitter buyout. According to “sources,” whatever that means, Twitter is close to receiving a formal takeover offer. This makes Twitter the latest so-called business with a huge internet presents, but no way to make money, to be snapped up by another company that thinks that they know what Twitter doesn’t: how to make money. Twitter is, of course, a huge internet icon. Unlike Tumblr before, which never made a penny, and was inexplicably snapped up by Yahoo. Yahoo came to find out that Tumblr not making any money may not have been by choice. The company never reached anything even close to the modest $100 million goal set for it, and was eventually written down by Yahoo as essentially worth nothing, despite having paid $1 billion for it. See my Credit Check Total review. Which brings us to Twitter. Twitter does make some money. Twitter’s second quarter filing showed revenue of $602 million for the quarter, but a loss of $107 million. A little math shows that it costs over $700 million just to run Twitter each quarter. And, that may be where other companies think they can do better. Although Yahoo was naive to …