Schmidt: Google 'unlikely' to buy Twitter soon
Google has a short message for those wondering whether the search giant will soon buy micro-blogging site Twitter: "unlikely."
That was Google CEO Eric Schmidt's response Friday when queried on the topic during a wide-ranging interview with journalist Charlie Rose. Schmidt said:
I shouldn't talk about specific acquisitions. We're unlikely to buy anything in the short term partly because I think prices are still high. And it's unfortunate I think we're in the middle of a cycle. Google is generating a lot of cash. And so we keep that cash in extremely secure banks.
Rose didn't press Schmidt for more perspective on the micro-blogging site. But earlier in the week during an on-stage chat at the Morgan Stanley Technology Conference in San Francisco, Schmidt called Twitter a "poor man's" e-mail system. "They have aspects of an e-mail system, but they do not have a full offering," he said at the conference.
"Twitter's success is wonderful and it shows you that there are many, many ways to reach and communicate, especially if you are willing to do so publicly," he said that day while touting the success of Google's instant messaging system.
However, Schmidt's comments to Rose about the merger market echo sentiments he expressed during the Morgan Stanley conference: Google will be ready to make a deal when the price is right. "The good news is we have lots of capital," Schmidt said at the conference. "The bad news is we're still trying to get everybody into the model that we really want in terms of M&A. And I think it'll start soon, but it's pretty inactive right now."
Schmidt wasn't asked to describe his ideal model and he didn't volunteer to elaborate.
"Poor man's" e-mail aside, if Schmidt is interested in buying Twitter, does he think he can cut a bargain-basement deal? Twitter has already turned down an offer from Facebook reportedly worth $500 million.
During the rest of his hour-long interview with Rose on Friday, Schmidt discussed Google's origins, how the company arrived at its advertising business model by accident, and his view of future technologies--such as a TV revolution in which Android-powered devices tranform into televisions.
TechCrunch has printed a full transcript of the interview with Rose.
Steven Musil is the night news editor at CNET News. Before joining CNET News in 2000, Steven spent 10 years at various Bay Area newspapers. E-mail Steven. 
However Google is rethinking everything and what they are doing is great for the common good. They are showing us that sharing and collaborating is possible with Google Docs. They are proving that Cloud Computing is the future and local storage is inefficient and not productive. They are proving that you can have apps work together to improve our lives by having everything available all the time. For example Gmail works with Calendar and Calendar works with Gmail. We have never had this type of integration. It goes way father than these two apps but is an example of applications working together all the time. Maps works with both apps, Google talk works with both apps. You can sms through Gmail or Igoogle no other company can match Google with all it's services and tight intergration.
You have the right to not like Google but I bet you use it's products.
Remember the FIRST time you talked on the telephone? It was weird but after some time you got used to it. If we don't put a voice to these sites and the web in general soon, that medium will only get weirder and more uncomfortable to use for everyone. Otherwise, let's get rid of our ears and voices and let our eyes and hands do everything.
Get a clue people, they aren't evil, and nobody else is doing it better. If Apple had Microsoft's market share, people would be declaring Steve Jobs to be the anti-christ. Which would be absurd since we all know that would be Bill Gates! ;)
Google rules, I love everything they have done, except for Orkut, which sucks.
Google is fine the way it it- no need to have them get distracted by new shiny objects that make them forget things like making their search engine work the way it used to without skewed results based on who pays them the most to be at the top. :P
http://www.pcdisorder.com/2009/03/google-test-driving-twitter.html
- by ChrisLang March 12, 2009 10:05 AM PDT
- The Facebook acquisition was a joke, true they offered $500 million, but it was $500 in overvalued Facebook stock. Considering it was MS who held FB up to begin with, Facebook stock is the stuff hopes and prayers are made of.
- Like this Reply to this comment
-
(20 Comments)Google turned down Digg, they are not buying anything else that is simply repetitive technology based on last year's ideas. With all the social features that already have been built into Google now (you just don't know about them, think Wiki) they have no reason to buy else where. At this point it is other sites that need Google, not Google that needs to buy.
I would be expecting to see Microsoft buy more than anyone else, they are the one's trying to hang on because they, like myself, KNOW where Google is going and they are real scared.
I would actually like to see Microsoft buy Digg and roll it into search. The problem is that Digg is so ruled by the Digg mafia and bury brigades of special interest that is is pretty much worthless to other sites.
Chris Lang
http://googlingsocial.com