JP Morgan Didnt Invest in Twitter
It was rumoured that Twitter has received a $450 million investment from JP Morgan Chase for a 10% share of their company. It turns out that Twitter co-founder Biz Stone is denying the rumours.
Stone told Reuters that the reports were “made up”, but did admit to discussions with Facebook “a couple of years ago … (but) nothing formal since and it’s mostly rumors all the time”.
JP Morgan is in the market for investing in social media startups, because recently they raised a $1.22 billion fund to do just that. There isnt an investment in Twitter at the moment, but it would make sense for JP Morgan to invest very soon. biz stone
