Twitter Could Possibly Sell Itself Within a Month
The microblogging site, Twitter has been serving millions of individuals and corporations for a long time. Now, it is highly likely that the company could possibly sell itself in the next few weeks. According to folks familiar with the matter, Twitter has approached potential buyers that it might sell itself before it reports third-quarter earnings on the 27th of October. This is definitely a big deal and acquirers have mixed thoughts about the decision. Let's see some more details on Twitter acquisition.
Twitter Acquisition Could Potentially Take Place on October 27
According to Reuters, Twitter is looking forward to close the deal by October 27. The source also noted a few major companies that were interested in acquiring Twitter including Salesforce, Google and Disney. Google and Disney, however, dropped themselves out of the race, which lead to a 9 percent drop in Twitter's share price. The last it was down to $22.58.
With the two companies dropping out of being the potential acquirers, Salesforce still remains to be seen to snap up the microblogging network. Salesforce is a sales and marketing firm and its decision to buy Twitter would be rather interesting. If the decision pans out, we wonder what would the company harness in the site. According to possibilities derived from Reuters, the company could equip Twitter's network to be a customer service tool. Moreover, data can be mined from tweets to build business intelligence caches.
Even though Twitter has some 313 million active users, the company is still struggling hard to make profits and revenue growth. Twitter is seen as a source of news, a sharing hub for individuals and corporations. The company has also failed to keep up with its direct competitors like Facebook's Instagram or Snapchat. Both of these have more users in their pockets compared to Twitter. Seemingly, advertisers have also started to move their ad dollars accordingly.
With that said, the target date for Twitter's sale is just three weeks away. Henceforth, at this point in time, the fate of Twitter is uncertain. Would it remain in the acquisition period for the next three weeks or would it change its mind? More information is likely to surface soon, so be sure to stay tuned.
This is it for now, folks. What do you think about Twitter acquisition? Do you think Salesforce will advance forward and take a step to buy the microblogging site? Share your thoughts in the comments.