Apple Inc. held discussions with Twitter Inc. more than a year ago about taking a strategic investment in the short-messaging service, according to a person familiar with the talks.

People familiar with the matter said there are no current formal investment or acquisition discussions between the companies.

News of the investment talks was first reported by the New York Times.

Since the discussions between Twitter and Apple ended, the landscape has shifted for many fast-growing Web start-ups, both public and private. Facebook Inc. had a rocky initial public offering in May, and its shares are now down more than a third below their IPO price. Valuations of other high-profile tech companies, including Groupon Inc. and Zynga Inc. also continue to fall to earth — developments that have made investors question rich valuations placed on consumer-Internet start-ups such as Twitter.

Source: The Wall Street Journal