Twitter is said to be in talks with several companies and could receive a bid soon, business broadcaster CNBC reported, citing sources.
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Shares of Twitter were up more than 20 percent Friday after the news that suitors are examining the possibility of a deal and assessing Twitter’s willingness to engage on that possibility.
Twitter is likely to interest the likes of Google (Nasdaq: GOOG) and Salesforce.com Inc. because of the data it generates on a real-time basis.
Salesforce.com said it doesn’t comment on rumors and Google did not immediately respond to a request to talk about a possible deal.
Despite its cultural currency as a communications platform favored by celebrities, politicians, companies and others in the public eye, Twitter has struggled to expand its wider user base.
If Twitter puts itself up for sale, you can add Salesforce, Microsoft, and Verizon to the list of potential buyers.
TWTR is trading at $21.32, up $2.69 or 14.44 percent on a volume of 21.09 million shares.
Twitter is rumoured to be on sale and several technology giants are said to have expressed interest for a take-over. Twitter’s declining stock value has led to speculation that the company could be sold in the near future.
Twitter co-founder Jack Dorsey returned to the company as chief executive in 2015, but his plan for reviving Twitter is at best seen as unfinished, noted Yahoo News. Professional networking site LinkedIn was in a similar situation when Microsoft announced in June that it would buy the beleaguered company for $26.2 billion.
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Twitter launched back in March 2006, and has since ballooned to become one of the biggest social networks on the planet, reaching 313 million active users each month.
