In July Twitter posted quarterly revenue of $602 million, up 20% year-over-year. Twitter’s board of directors is said to be interested in a deal. The report said a transaction is not certain but “conversations are picking up momentum and could result in a deal before year-end”.
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Mr. Afshar in his tweet said that Twitter has a personal learning network, the best real-time and context rich news, and a great place for promoting others.
“I think [a Twitter acquisition] would be a way for a media or technology company to have immediate access to a sizable platform”, Anthony diClemente, an analyst at the financial services company Nomura, told the Wall Street Journal. Twitter declined to comment in a statement to Bloomberg.
Potential suitors include Alphabet’s (GOOGL) Google unit and Salesforce.com (CRM).
After the news of Twitter sales its shares jumped on Friday to more than 19 percent to $22.22, which is largest one-day hike since first day of trading in 2013.
Google, Microsoft, and several other tech firms are all respectively mulling over a complete buyout of Twitter, according to a new report. Facebook now has some 1.71 billion monthly active users while Twitter has just 313 million.
For the second quarter through June, the company’s net loss narrowed to $107.2 million from $136.7 million a year earlier.
In the years since its November 2013 initial public offering, which was priced at $26, Twitter has grappled with slow user expansion and shrinking revenue growth. The company a year ago installed co-founder Jack Dorsey as its CEO to help re-ignite its growth.
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CNBC reiterated on Friday that Google was interested in Twitter. TechCrunch stated today that its sources have indicated that Microsoft’s interest in Twitter “in part, is an attempt by the company to drive the price up to keep it out of Salesforce’s hands”.
