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Google Reported To Be In Talks Over Purchasing Of Twitter

  • Written By Livie
  • Posted September 28, 2016
  • 2 minutes Read Time

The social media platform Twitter has, in the past week, been in a position where they are reportedly on the verge of a sale.

Alphabet’s Google and SalesForce, a US cloud computing company, are said to be the frontrunners who are claimed to be vying for the ownership of Twitter, as well as a number of other potential buyers.

The news comes after the company revealed it is having to come to terms with its slowest revenue growth since it went public, three years ago, in 2013, even though it is still an integral part of some strategies for businesses’ and their mobile commerce.

Twitter has “received expressions of interest from several technology or media companies” and may be about to receive a formal bid, it has been claimed.

This has gotten Wall Street investors across the pond rather excited and as a result saw Twitter’s stock skyrocket in excess of 20% in mid-morning trading on Friday 23rd September, shortly after the news was unveiled.

Furthermore, there are firm beliefs that a sale could be well within reason before the end of the year.

Twitter’s stock has been feeling the heat now for several months, with user growth close to plateauing, rising just 3% to 313 million in its most recent quarter.

The social media channel has found it difficult in recent times to maintain its presence in the battle of the social media hierarchy after facing fierce competition from rival social media platforms such as Snapchat and Instagram.