Twitter in Takeover Talks

PaulRubens on Friday September 23, 2016 at 11:33:38 AM

Twitter in Takeover Talks

The social network has reportedly received interest from a number of buyers, and a sale could be imminent.

(CCM) — Twitter's days as an independent company may be numbered, and potential buyers for the social networking company are beginning to circle, according to a report on CNBC. The news channel's sources say that the company is of interest to a number of companies, and a takeover bid could be launched any day now. Potential bidders include Google and software-as-a-service giant Salesforce.com. Earlier this year, a Wall Street Journal report said that Salesforce.com was interested in bidding for professional social network LinkedIn before it was acquired by Microsoft for $26 billion in June. Although Salesforce has declined to comment on the report, Vala Afshar, the company's chief digital evangelist, tweeted "I have tweeted my personal views regarding 'Why Twitter?' numerous times over the past couple of years. I simply love Twitter."

The CNBC report quotes another source as saying that Twitter could be sold before the end of 2016. Twitter's sales have been slowing this year, and in the ten years that it has been in existence, the company has never made a profit. The company is valued by the market at $16 billion, but it is likely that any suitor would have to pay substantially more to gain control of such a high profile internet service.

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