Facebook encroaches on Twitter, tests "trending"

Facebook (FB) is experimenting with a "trending" section in the newsfeed of its homepage. The functionality, a natural continuation of the social site's roll-out of hashtags 2 months ago, is the third move (embedded content being the second) in as many months that encroaches on Twitter's domain.

Twitter has been "preen[ing] its feathers" for an IPO for some time. The micro-blogging site is forecast to generate revenue of $580M in 2013 (less than one-tenth Facebook's expected 2013 figure) and sports a valuation of $10B. With Facebook moving in, it seems that Twitter's inevitable IPO may become all the more imminent. One certainty? Morgan Stanley will not be Twitter's lead underwriter.

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