Twitter is moving closer to a sale, CNBC reported yesterday, sending the social media company’s shares soaring by the most in more than two years.
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Twitter’s co-founder, Jack Dorsey, returned to the company as chief executive past year. Facebook now has some 1.71 billion monthly active users while Twitter has just 313 million. But of course, Google or Alphabet might still be interested in buying Twitter as the search giant is the king of online ads, and it probably doesn’t want to keep Google+ alive anymore. That’s slightly surprising as Salesforce “has virtually no presence in consumer media”, instead focusing on “cloud-based computing services”.
Whether he would do this during discussions about buying the company seems unlikely, and he later issued a further messaging explaining why he had posted the original message.
BAKE OFF FORUM Twitter is being eyed up by a number of potential buyers, according to reports, including Google, Microsoft, Salesforce and Verizon. “We note that we still believe Twitter is a unique asset with a strong value proposition to core users”.
Twitter, which is struggling to add new users amid stalled growth, now has a market value of almost $16 billion.
The social media site has faced growing criticism over earnings momentum, amid sluggish user and advertising growth.
According to a report on CNBC today (Friday), Twitter is on the verge of selling its shares.
The news also sent Twitter’s share price to its highest since January at $22.65, although Salesforce was down 3.2pc and Alphabet – Google’s parent company – dipped 0.19pc.
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Salesforce acquired a company called Quip in August, which one analyst said could be seen as an “offensive move” against Microsoft’s Office products.
