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Who Turns Down $500 Million in a Downturn? Twitter

Posted Dec 03, 2008 05:25pm EST by Sarah Lacy in Investing, Internet, Venture Capital, M and A, IPOs, Recession
Related: ^ixic, msft, goog

Twitter has gained a whole new level of global awareness this week, thanks to the microblogging site's role in disseminating information about last week's terrorist attacks in India. But behind the scenes, Twitter the company is growing up too. First, there was the October change in CEO, when the more experienced co-founder Evan Williams took over for Jack Dorsey.

No sooner did Williams take over than he had to grapple with one of the toughest decisions entrepreneurs face: To sell now or roll the dice. At a Churchill Club event last night, Williams confirmed accounts that Facebook offered Twitter a $500 million acquisition, that Twitter explored it seriously and turned it down.

Is Williams crazy like a fox or just, well, crazy?

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