Here is a flashing news in social media, technology giant Apple has held talks in recent months with micro-blogging site 'Twitter' on the possibility of undertaking multi-million dollar investments in the network, a media report has said.
"Apple, which has stumbled in its efforts to get into social media, has talked with Twitter in recent months about making a strategic investment in it," The New York Times said yesterday, citing source.
According to the daily, the iPhone maker has considered investing hundreds of millions of dollars, that could take Twitter's value up to USD 10 billion compared to its valuation of USD 8.4 billion last year.
However, citing a source, the daily said the two companies are not in negotiations at the moment but the recent talks are a sign that they may form a stronger partnership amid intensifying competition from Google and Facebook.
Both Twitter and Apple declined to comment on the matter, the daily added.
Apple has strongly sewn Twitter features into its phones and tablets, while Twitter has put more resources into managing its relationship with Apple, the daily said.
"...such a deal would give Apple more access to Twitter's deep understanding of the social Web, and pave the way for closer Twitter integration into Apple's products," the daily said.
According to the publication, Twitter with more than 140 million monthly active users has nearly USD 600 million cash in hand and does not need Apple's investment.
Moreover, the social network site is widely expected to pursue a public offering within the next few years irrespective of its deal with Apple, the daily said.
On Friday, Apple which tends to mostly buy small start ups, purchased a small mobile company for USD 356 million.