Widely Reported TweetDeck Deal Not Actually Done Yet

TweetDeck CEO Iain DodsworthTweetDeck CEO Iain Dodsworth

Photo: Documentally

Despite reports to the contrary, UberMedia has not yet acquired the company behind popular Twitter client TweetDeck.In fact, we’re hearing conflicting reports on how much progress the two sides have made.

A source close to TweetDeck says the deal “ain’t done.”

Another source briefed on TweetDeck’s stance in the negotiations described them as “preliminary.” 

A source closer to the other side of the deal, meanwhile, insists everything is “on track” and that this is just a “normal due diligence” stage.

This source says the main reason the deal isn’t done yet is that news of the potential acquisition broke on the very first day of negotiations – and that threw everybody off. We understand TechCrunch’s report on the deal ruined a few people’s weekend.

Naturally, sources on both sides of the deal are pointing fingers over that leak.

We’re just speculating here, but it feels like this deal will get done – but maybe at a higher price than UberMedia originally wanted.

UberMedia is run by Bill Gross, the guy famous for figuring out Google’s business model before Google did.

UberMedia, which raised $17.5 million from Accel Ventures earlier this week, already owns popular Twitter apps for the desktop, BlackBerry, Android, and iPhone. Gross is trying to aggregate Twitter’s users and figure out a way to make money off them.

Gross’s attention to the space is great news for Twitter. CEO Dick Costolo is having a hard time coming up with a way to make money. If UberMedia figures it out, Twitter has enough funding and brand power to be able to buy UberMedia or just copy it.

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