Just last week, internet communities surprisingly started buzzing with stories related to the possible sale of Twitter. And it seemed to be genuine information this time around, as the potential suitors included the likes of Google, Apple, Salesforce, and even Disney(at a later point). But, we are yet again in a stifled state as some bidders have already pulled out from the bidding process.
Fresh reports from Recode suggest that three out of four aforementioned tech behemoths have already tapped out from the impending bout to acquire Twitter. The company has (once again!) been left high and dry to deal with its own internal problems; as neither Google, Apple nor Disney are willing to make an offer this time around.
Though we’re were exceptionally surprised to see Apple and Disney jump the gun to participate in the buyout process of the suffering social network, they were the most unlikely suitors. Apple who is currently focused on consumer enterprise and hardware products sees no use of a social network in their portfolio, and don’t even get me started on report of Disney.
But, I’m terribly shocked to hear that Google has called it quits as one of the potential bidders for Twitter. I, for one, saw Mountain View as the best home for the micro-blogging platform. The tech behemoth has made several attempts at building a social network with(and around) Google+, but all those tries have resulted in a total failure. Google had even started working with its longtime M&A adviser Lazard on a possible bid, but it doesn’t seem to be interested in the company anymore.
When the rumors(which might in-fact be true) of the potential sale of the micro-blogging platform Twitter hit the interwebs, investors were relieved and saw a potential upside in investing into the company’s stock. This led to a significant 23 per cent climb in the share prices, which eventually cooled down and stabalised around $22.
But today’s news of tech behemoths pulling out from the acquisition process has caused wide-spread panic amongst investors. Twitter share prices have taken a nosedive just as quickly as they rose a couple days ago. It is currently trading at $19.82, after fallling about 20 per cent.
Well, after all the hullabaloo, Salesforce, the leading cloud CRM company, is the only potential bidder left in what was a race to acquire the reported $18 billion micro-blogging platform. The company, which was potentially a forerunner in the race, is still isn’t backing out and frenzied about the reigns of Twitter falling into their hands. They just want their hands of the buttload of global data from the platform right away. It will likely employ the same to help their customers improve upon their marketing and target campaigns.
The financially distraught micro-blogging platform has been stuck in a state of statis due to an internal strife between top execs, Jack Dorsey and Ev Williams. But, the reports of the sale of the company is happening and that is not a hoax.
While CEO Jack Dorsey, who took reigns of the company last year, has been trying to turn around the excruciatingly slow and stagnant growth of the company. He has even resorted to launching multiple campaigns, feature additions, character limit reductions, Periscope integration, among others to make the platform accessible to the general masses, but in vain