Twitter has rejected a takeover offer worth $500 million from Facebook, the Silicon Valley Insider reports. The offer was in all-stock form. Twitter felt the figure was inflated and the shares should be valued at the lower figures that have been reported for Facebook’s true valuation of $5 billion, the Alley Insider says. “It’s more about timing,” says an insider. “There is a strong feeling that there is still an opportunity—even with the economic downturn—to blow this thing out.”
—Christopher Perez