Earlier this month we heard that Twitter's board of directors was considering a potential sale of the company, and today the rumor is out that some buyout bids are in, including ones from Google and Salesforce, "among other technology companies," as CNBC is reporting. As a result, Twitter's stock price, which has hovered between $16 and $19 per share for several months, is trading at $21.80 per share as of this writing.
According to CNBC, "Suitors are said to be interested as much in the data that Twitter generates as its place as a media company," which may not be great news for some of the existing staff should a sale go through. But let's not jump the gun!
The Business Times notes that the company has had less demand from advertisers so far this year than it had hoped, and in late July "slowing advertiser demand and a weakened revenue forecast walloped Twitter... pushing its share price down as the company scrambled to reassure investors it was on the right path."
Like Facebook, Twitter is moving into the live video space hoping that that will lure ad dollars. But the company's profitability has remained a concern for investors, and clearly for the company's board.
Salesforce, meanwhile, lost out to Microsoft in a deal to acquire LinkedIn earlier this year, and now as CNBC points out, Salesforce's "chief digital evangelist" Vala Afshar was tweeting this at 6:30 this morning:
Why @twitter?— Vala Afshar (@ValaAfshar) September 23, 2016
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