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Twitter is shopping for a buyer

Friday, September 23, 2016 - 01:18

Twitter has initiated talks with several technology companies, including Alphabet's Google and Salesforce.com, to explore selling itself, according to CNBC. Fred Katayama reports.

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Twitter is shopping around for a buyer. The Wall Street Journal says Salesforce.com is considering a takeover of the microblogging service company. CNBC earlier reported Twitter is in talks with Alphabet's Google and Salesforce, among others. It said Twitter may receive a formal bid soon. Twitter and Alphabet could not be reached immediately for comment, and Salesforce declined to comment. Kevin Kelly of Recon Capital says Twitter could strike a deal worth around $20 billion, with a potential buyer paying up to $30 per share. (SOUNDBTIE) KEVIN R. KELLY, CHIEF INVESTMENT OFFICER & MANAGING PARTNER, RECON CAPITAL, (ENGLISH) SAYING: "This is reminiscent of another company that we just saw sell themselves, and that's Yahoo. So, this is another company that should sell themselves to a management that knows how to unlock the value, and, so, with only 300 million monthly active users, compared to the other social networks that have billion plus and growing, I think, this could be better in someone else's hands who can grow it from the 300 million users to billion user mark, which investors care about." Twitter's stock soared Friday. That gave the company a market capitalization of roughly $16 billion. The news comes as Twitter grapples with its slowest revenue growth since going public, disappointing sales and user engagement.

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Twitter is shopping for a buyer

Friday, September 23, 2016 - 01:18