Saturday, September 24, 2016

Twitter Finally Up for Sale: Formal Bidding Soon

twitter logo
Twitter up for Sale

Notice Twitter's shares jumping 20% at the stock market? That's because Google and Salesforce have shown interest in acquiring the micro-blogging site. This is on top of Microsoft and Verizon approaching Twitter sometime this year. 

Twitter's estimated value rose from $13 billion to $15.5 billion amidst buzz of zeroing in to the final winner of this race. Sources told CNBC that Twitter has been secretly up for sale for over a year now. After replacing its CEO Jack Costolo with Jack Dorsey, the board of directors have been constantly looking at a suitable buyer. 

Although Twitter did try a lot of options- buying Live-streaming rights to Periscope, it's revenues and user numbers have been stagnant for a long long time now.

While all the potential buyers have acquired companies big and small - Microsoft - LinkedIn, Verizon - Yahoo, there are still no clear favourites for this race.

Follow us on Facebook, Twitter to stay posted!