Social networking site, twitter.com rejected a $500 million takeover offer from another social networking giant Facebook.com yesterday. The offer was $100 million in cash and the rest in stock. According to Kara Swisher, Twitter rejected the offer because:

"-Facebook’s real valuation made the amount to only $150 million

-Twitter’s investors wanted cash

-Twitter has a secret plan to be announced next year for revenue"

The real question is: What does twitter have in store? Sure, Facebook may have inflated their numbers a little, but hey, times are tough and $500 million is still half a billion!

Now you can finally Twitter with the ex-wife of Kevin Federline! Sources indicate that the pop maven has created a Twitter account, as well as a new website.

Interestingly, her new single just jumped from 96 on the Billboard charts to number one. Coincidence? I think not. We all know the power of the Twitter generation. Now if we can only get Britney her own personal RSS feed.

This bodes well for Twitter though. A few more celebrity endorsements and it could merge with McDonalds or something.

This video demonstrates how Twitter works in plain English.