This is the second time this year Salesforce has jump-started a sales process of a large social media company.
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There’s been speculation about a possible Twitter sale for a while now amid less-than-stellar revenue growth. Citing unnamed sources, CNBC reported Friday that Twitter has received “expressions of interest” from several tech companies and was “engaged in conversations with potential suitors”.
Despite the buzz, nothing is final as of yet, however it’s being reported that Twitter may receive formal bids from the above mentioned companies rather soon.
Those companies are said to include Google and cloud computing software firm Salesforce.com Inc., according to CNBC.
Experts say Google makes the most sense to buy Twitter, as it has the money and hasn’t been able to get its own social media efforts to take off.
Twitter is now considered as a high-profile and money-losing social media company.
The company’s business struggles have come even as the 10-year-old service has evolved into a potent global source of news, entertainment and social commentary.
But a recent presentation about its new “Einstein” artificial intelligence platform provided a peak at how Twitter could fit into the company’s strategy.
Twitter’s board met several weeks ago after hearing from Salesforce, said the people, who asked not to be named because the information isn’t public.
Twitter could provide Salesforce with similar benefits to LinkedIn.
Twitter has failed to keep pace with Facebook and Snapchat as far as growth and a loyal fan base are concerned.
In a tweet Friday morning, Salesforce executive Vala Afshar said Twitter was a “great place to promote others” and “the best realtime, context rich news”.
Twitter’s revenue grew rapidly under former Chief Executive Dick Costolo, but stagnant user growth and mounting complaints about lack of innovation in the product led to Costolo’s departure a year ago.
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Twitter shares soared after remarks from cofounder Ev Williams. The shares peaked above $74 just over a month after its IPO, but have been on steady downward trajectory since.
