The not-so-quiet rumors circulating last week about Twitter buying social search engine Summize are no longer rumors but are confirmed. Twitter founder Biz Stone confirmed it on his blog today, and one report has the deal valued at $15 million in cash and stock. Two surprises there: 1. $15 million is exactly what Twitter just secured in its latest round of financing. 2. Twitter has stock.
Rumors Circulating That Twitter Has Bought Summize And Stable
Just when you thought Twitter was a dead duck, a flurry of news suggests there’s life in the old bird yet!
Twitter (Maybe) Buying Summize
A rumor pops its head out this morning that Twitter is negotiating to buy Summize, a search engine allowing users to dig through tweets on Twitter. Before we continue, let’s take a moment to appreciate the quality snark emanating from David Fry via Twitter rival FriendFeed: One company with no revenue buys another company with no revenue and whose existence depends on the first company?