Google or Salesforce could be about to bid for Twitter
Oct 07 2016 by Johnny Bowman
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". Where Twitter lags behind in monetisation, Google could potentially pick up the slack, Digital Spy said.
The value of Twitter is seen as lying partly in its data as well as its status as a social media platform, according to CNBC.
According to the report, Alphabet Inc. has recently expressed its interest in Twitter's shares in order to expand its activity in the field of social media.
Twitter shares caught fire today as reports circulated claiming that the mico-blogging site is set to be subject to a takeover attempt from Google, Salesforce, or another firm.
Twitter's stock regularly jumps on rumours that a bid is afoot, but no bids to date have developed into a deal.
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Twitter did not immediately respond to requests for comment Friday morning.
Shares of Twitter were trading higher by more than 20 percent to $21.70 following Faber's report.
Indonesian President Joko Widodo, right, talks with Twitter CEO Jack Dorsey, left, during a visit to Twitter headquarters Wednesday, Feb. 17, 2016, in San Francisco.
Google's engineers could make Twitter easier to use, which could drive user growth, and its sales team could increase advertising opportunities, he said.
The problems led to former founder Jack Dorsey returning to the firm a year ago as CEO, and he has tweaked the platform in a bid to improve engagement and user numbers, such as removing media content from the 140-character limit.