Rumour: Twitter Rejects $500 Million Facebook Offer, Hopes To Build Big Business [video]

Kara Swisher

Kara Swisher (right) of D:All Things Digital blog, sitting next to Twitter CEO, Evan Williams at a recent Churchill Club event. Swisher first reported the failed deal between Facebook and Twitter.

According to a post on the Wall Street Journal’s D:All Things Digital blog, Twitter – the free social messaging service -  rejected 3-weeks ago a $500 million buyout offer from Facebook.

When asked about it a few weeks ago at the Web 2.0 Summit, Facebook CEO, Mark Zuckerberg, had this to say:

“I’m really impressed by what they’ve done… I think they’re building something pretty cool… It’s a very elegant model”.

The Facebook CEO also confirmed that both companies are partnering in Facebook’s Connect project that will let San Francisco, Calif., based Twitter integrate more into Facebook’s platform.

Here’s the video excerpt of Zuckerberg comments about Twitter at the Web 2.0 Summit:

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