Back in February, The Wall Street Journal reported that Twitter received a valuation of between $8 and $10 billion, despite a previous valuation of $3.7 billion. The industry balked, the press went crazy, and then things went back to normal.
Now, Fortune's Jessi Hempel, in a piece detailing the troubles afflicting the popular social network, is reporting that last fall, Twitter turned down a $2 billion buyout offer from Facebook and a $10 billion offer from Google.
Why did it turn down an offer that was roughly more than double it's actual worth? No one knows, but people are wondering if its current troubles—less than 25% of users generating all tweets, CEO shake-ups—will affect it's long-term growth.