Due to a disappointing second quarter for Twitter where profits have gone lower than expected on the $602 million of income for the second quarter of the year, the company is now looking to sell itself. Sources by According to Reuters, the company is now looking to close a deal as soon as possible, preferably by October 27. It was noted that Google, Disney, and Salesforce were interested in purchasing Twitter, who wants to sell itself fast.
Unfortunately, Google and Disney have backed out on purchasing the company, this triggered a staggering 9 percent downward slope in Twitter’s share prices, which is now down to $22.58 per share.
Now it is up to Salesforce to try and save the crashing microblogging network. Hopefully, the sales and marketing software firm can do good with Twitter’s platform. There is a possibility stated by Reuters that Twitter’s network can be put to good use by using it to build customer service tools and also gather data from tweets in order to build business intelligence caches. However, the CEO of Salesforce, Marc Benioff made a comment that makes it look like the decision is still unmade. During an interview on CNBC, he said that:
“We look at everything. You name it, we look at it. It’s in our interest to look at everything. We have to go deep on everything to understand what is possible for our shareholders and what isn’t. But in the scheme of things, if you look back at my track record as a CEO I think you’ll find I look at a lot of things, [but] I actually pass on most things.”
We have to look at everything. We’re going to pass on most things. And the reality is our decisions have been very, very good for our company. On the vast majority of the deals we do, the stock goes up.”
Things are still uncertain for the microblogging network known as Twitter, as their target sale date is within this month with no sure takers as of yet.