Twitter Inc. (NYSE:TWTR) could be subject of a takeover bid from one of the tech giants sooner rather than later, as reports have surfaced of solid interest from Alphabet Inc. The company went public in 2013 but has struggled to grow and retain its user base.
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Multiple reports today have named a handful of companies that could be thinking about bidding to purchase social networking site Twitter-and Microsoft is among them.
Those companies are said to include Google and cloud computing software firm Salesforce.com Inc., according to CNBC.
Here is a look back at what Recode had to say on why Salesforce and Google would be interested in buying Twitter.
World News – Twitter shares surged by 22 percent Friday morning after sources said the ailing social media moved closer to being sold.
Twitter could receive a formal bid shortly, sources told CNBC.
Five minutes into United States trading, Twitter shares were up 16.4 per cent at $US21.68, less than one-third of their peak in December 2013 and well below the November 2013 IPO price of $US26 a share. Twitter’s monthly active user count of 320 million puts it in the same neighborhood as Google+ (300 million) and far from Facebook’s offerings of Instagram (400 million) and Facebook (1.59 billion). However, its chief digital evangelist Vala Afshar tweeted his personal views favoring Twitter.
However, a deal could result before the end of the year as companies look to be interested in the data that the company has gathered over the time from its users.
The problems led to founder Jack Dorsey returning to the company previous year as CEO.
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In July Twitter posted quarterly revenue of $602 million, up 20% year-over-year.
