Twitter Still to Decide October Self Selling, Maintains Silence over the Matter
Twitter has just told potential acquirers it is seeking to conclude negotiations about selling itself by the time it reports third-quarter earnings on October 27.
It is the clearest sign yet that Chief Executive Jack Dorsey is pushing to provide clarity to shareholders and employees over the company's future as quickly as possible.
By this acquisition, offers are due in the next two weeks, and Twitter had already whittled down the field of potential acquirers. Salesforce.com Inc is in the run, while Google parent Alphabet Inc, and Walt Disney Co have also bee contemplating bid. They were the ones who are planning t buy twitter just in case Twitter finally decides whether to be sold of not.
But then, Twitter and Salesforce declines to give a comment while Google and Disney also did not returned requests for comments.
They said that twitter struggle to generate revenue and profit, despite having some 313 million average monthly active users and growing.
Twitter missed the Wall Street's Sales expectations in both the first and second quarter of 2016, according to Thomson Reuters StartMine, and has yet to produce a net profit in 11 quarters as a public company.
Dorsey, who returned to Twitter as chief executive more than a year ago, has been part of Disney's board since 2013.
Twitter was introduced to the public in November of 2013 at $26 a share. These shares peaked above $74 just over a month after its IPO, but it has been on steady downward trajectory ever since.
Now, Twitter still remain silent regarding this concern but investors are already eyeing on this. More so, The company is merely and steadily preparing for their bids and more for more unexpected things that may happen like whether Twitter will decide to be sold or not. All of this we'll have to wait until October 27.