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March 4, 2011 12:22 am GMT
It's amazing to me how wrong The Financial Times, The Wall Street Journal and The New York Times were on their Twitter fundraising stories last week. All claimed multiple independent sources, but everyone got the story wrong in the same way.Financial Times: "A JPMorgan fund is in talks to acquire a substantial stake in Twitter, one of the fastest-growing social networking sites.WSJ: "J.P. Morgan Chase & Co. is in talks with Twitter Inc. to take a minority stake in the rapidly growing microblogging company, people familiar with the matter said...Discussions between J.P. Morgan and Twitter are continuing, and there is no guarantee a deal will be struck, the people added."NYTimes: "It is not clear whether the fund, known as the J.P. Morgan Digital Growth Fund, will invest directly in Twitter, or buy current investors' stakes with the company's consent, these people said."All of these stories were wildly inaccurate. I don't remember a time when the big guys were all throwing around "multiple sources" so freely and all zeroed in on exactly the same wrong story. It makes me think the FT just flubbed it, and the WSJ and NYTime
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/MkPVfUS8cec/
The Twitter Story Fail
It's amazing to me how wrong The Financial Times, The Wall Street Journal and The New York Times were on their Twitter fundraising stories last week. All claimed multiple independent sources, but everyone got the story wrong in the same way.Financial Times: "A JPMorgan fund is in talks to acquire a substantial stake in Twitter, one of the fastest-growing social networking sites.WSJ: "J.P. Morgan Chase & Co. is in talks with Twitter Inc. to take a minority stake in the rapidly growing microblogging company, people familiar with the matter said...Discussions between J.P. Morgan and Twitter are continuing, and there is no guarantee a deal will be struck, the people added."NYTimes: "It is not clear whether the fund, known as the J.P. Morgan Digital Growth Fund, will invest directly in Twitter, or buy current investors' stakes with the company's consent, these people said."All of these stories were wildly inaccurate. I don't remember a time when the big guys were all throwing around "multiple sources" so freely and all zeroed in on exactly the same wrong story. It makes me think the FT just flubbed it, and the WSJ and NYTimeOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/MkPVfUS8cec/
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