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Twitter allegedly attempted to buy Instagram for $525 million
Posted by John Kilhefner Categories: Acquisitions, Corporate News, Rumors, Social Networks, Startups
Way before Facebook bought Instagram for $1 billion, Twitter apparently made an offering of its own, to which Instagram initially agreed to.
The offer from Twitter, according to The New York Times, was for $525 million. Instagram's CEO, Kevin Systrom, agreed to the buy-out, but changed his mind before selling Instagram to Facebook without allowing Twitter to make a counter offer.
What's interesting is that Systrom had stated while under oath to the California Corporations Department that Instagram had never received another formal offer. None of the parties have commented on the Times article that brought this information to life, but it could mean we might be in the throes of an intense legal battle shortly.
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| NY TImes
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MySpace is for sale
Posted by Patrick Lambert Categories: Acquisitions, Rumors, Social Media, Social Networks
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During an earnings call, News Corp. COO Chase Carey indicated that "now is the right time" to place MySpace "under a new owner". The news is not a big surprise, as things have been going downhill for the social network. Its owner, News Corp., has attempted to revive the property last Autumn with a site redesign, and while the site is still popular with some niche crowds, there's no question that Facebook took its place long ago. Still, Carey stays positive on the outlook of MySpace, saying “the new MySpace has been very well received by the market and we have some very encouraging metrics, but the plan to allow MySpace to reach its full potential may be best achieved under a new owner.” Of course, it's still unknown whether anyone would be interested in buying it.
Facebook to introduce revamped commenting system
Posted by Patrick Lambert Categories: Rumors, Social Networks
Facebook has offered blog owners the ability to integrate their commenting system into their own sites for a while now. So fa, it has seen limited adoption, with most sites using their own commenting system, or something like Disqus, and integrating the 'Like' button or Facebook Sharing. Now, rumors abound that the social networking site is about to completely revamp its commenting system, and is set to offer the same functionality that'll allow this much enhanced version to replace the comment system on most blog platforms. Some of the rumored features include threading, comment voting, and the ability to login using Twitter or Google IDs.
Read More | AllFacebook
Google to buy Groupon for $2.5 billion?
Posted by Patrick Lambert Categories: Acquisitions, Rumors, Startups
Following a week of rumors about a Groupon buyout, it seems now that Google could be buying the small company for $2.5 billion, according to internal sources. While neither company will comment on rumors, VatorNews quotes an internal source that confirmed the news to them. This would be a big deal for the small company since it could then use Google's intensive data on maps, locations and userbase, which could allow them to expand past the current select list of cities that they cover. Also, the acquisition makes sense for Google as they've been trying to grow Google Places, and compete with the likes of Facebook.
Read More | VatorNews
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