Twitter Was "Hovering Around" GroupMe, Considering An Acquisition

dick costolo twitter ceoTwitter CEO Dick Costolo thought about acquiring GroupMe

Photo: joi ito

Twitter considered acquiring hot New York startup GroupMe, we’ve learned from sources.Until a bidding war for a new round of funding drove GroupMe’s price too high – somewhere well above $30 million – Twitter was “hovering around” the startup, looking at buying it.

GroupMe is the service that lets you text a group of people using one phone number.

We think the product makes sense for groups as disparate as parents who want to text all their kids, dispatchers trying to reach delivery people, fantasy sports managers trying to talk trash to their entire league, and so on.

Instead of pulling the trigger, Twitter decided it could replicate GroupMe’s functionality internally.

Click here for a tour of GroupMe’s service >>

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.