Twitter is on the prowl. Though it made its last acquisition more than a year ago, company founder Biz Stone said on Tuesday that it's looking to add to the stable. There aren't any specific targets yet -- at least none revealed -- and Twitter is keeping its options open. The likely pool of potential acquisitions consists of third-party Twitter application developers, which is largely responsible for the micro-blogging service's growth in popularity.

Stone, one of Twitter's founders, said at a Tel Aviv news conference, "As our attention is grabbed by some of these developers, we will take a hard look at them." This refers to companies that develop applications for Apple's (AAPL) iPhone and Research in Motion's (RIMM) Blackberry. It also refers to developers for the Web and desktop, such as HootSuite and TweetDeck.

Twitter calls Google (GOOG) a "good role model," but says it isn't ready to rush down the road to advertising.

Nonetheless, an ad-based revenue model is something that cofounder Biz Stone says they "will be looking to do down the line." But, for now, he continues, Twitter is focused on "creating value for our users." For now, revenue generation ideas are being put on paper, "and we're definitely going to get to them," Stone says.

Yahoo! (YHOO) is the latest company that wants to optimize its search results for Twitter. This follows moves by Microsoft (MSFT) and Google (GOOG) to integrate Twitter data into their search results. Unlike its competitors, however, Yahoo! wants to do this without spending a dime (well, without giving a dime to the hot new social media platform).

Twitter's microblogging service has become famous not only for its rapid growth but also because it's found no way to turn it into revenue. Its recent discussions with Microsoft and Google demonstrated that Twitter can indeed bring in some cash -- by licensing its data for use in fine-tuning search engines. With two of the top search engines now optimizing for Twitter, it was only a matter of time before Yahoo! would rush to join the party.

The Twitter ecosystem may be changing constantly, but most of that comes on the back of individual developers and outside companies. They beat on Twitter APIs to create new products that may win them glory, recognition or cash. Over the past month, though, Twitter itself has gotten into the game, releasing or announcing a handful of new features.

A new function for "retweeting" (echoing another's tweet to your own followers), changes to how trending topics are managed, and the ability to create lists are new tools intended to engage users ... on the Twitter.com website. Considered within the context of Twitter's changed terms of service this year, the upgrades may be part of a broader ad-based revenue plan.

Sergey Brin claims that Google (NASDAQ: GOOG) didn't try to buy Twitter. The co-founder of the search engine giant made a surprise appearance at Web 2.0 Thursday, where organizer John Battelle asked point blank if he'd made a move for the popular microblogging website.

Of course, Brin revealed his fluency in corporate speak, continuing, "But if companies approach us we definitely consider any opportunities to buy," according to Reuters. A denial doesn't always mean a denial, especially if there were agreements to keep negotiations confidential.

What do you do when you're wildly popular, face increased costs due to that popularity, and have no discernible way to make money? Call Microsoft (NASDAQ: MSFT) and Google (NASDAQ: GOOG), and let them fight over the right to solve your problems for you. Twitter, the off-the-charts hot microblogging site, is said to be in advanced talks with both titans of the technology industry about giving them access to its data feed, according to an All Things D report (via Reuters).

The hope would be for either company to use the Twitter feed data to improve its search engines, with a goal of "real-time search" -- which translates to sifting through the torrent of tweets posted every second. The deal structures on the table vary, from a multimillion dollar licensing deal to revenue-sharing programs that would give Twitter a taste of the ad cash generated by Microsoft or Google from its use of the Twitter data.

Twitter is on the brink of nabbing another $100 million in financing, according to the New York Times. This would value the company at $1 billion, bringing back memories of outrageous valuations without corresponding revenue.

Insight Venture Partners and T. Rowe Price are said to be involved in the transaction, which would put them with Spark Capital and Institutional Venture Partners as investors in the popular microblogging site.

Private microblogging service Twitter Inc. continues to make headline after headline. Like MySpace did in 2005 and Facebook has in recent years, the service is attracting scores of consumers, marketers, and now corporate clients wishing to catch the fad and sell more stuff. How can anything be sold when "tweets" of 140 characters are being bandied about by the millions?

This week, Google (NASDAQ: GOOG) stirred things up when it announced that it purchased Jaiku, which allows for microblogging and other shared communications on mobile devices.

What's going on here?

I had a chance to interview Gary Hall, who is the president of Pringo Networks, a player in the space.

Twitter has seen lots of traction lately. But, there is competition, such as from Finland's Jaiku. The company says that it's "an activity stream and presence sharing service that works from the Web and mobile phones."

And, now Google Inc. (Nasdaq: GOOG) has just bought the company. In fact, Jaiku is a spring chicken, having been founded in February 2006 (the product launched in July 2006).

No doubt, mobile is key for Google. And, like other areas – such as videos – it's been tough for the company to develop things organically. So, why not buy its way into the space?

Unfortunately, you can't check out the Jaiku service (it's closed to new users right now). And as seen with other Google deals – such as for Jot – it's unclear when we might see it re-emerge (or appear in other Google services).

But, if I were Twitter, I would be quivering.

Also, if you want to check out other M&A deals, click here.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements.