Twitter said to be looking to sell

CMO Innovation editors
28 Sep 2016
Daily News

Twitter, the global microblogging service that pioneered hashtags and the art of marketing in small, crisp sentences is reportedly looking for suitors.

Bloomberg puts the sale around the region of $16 billion, although no accurate sales figures have been released and it greatly depends on the performance of Twitter’s stocks.

Reportedly, Twitter is working with Goldman Sachs and Allen & Co for the potential sale.

According to Reuters news sources, the company is not short of suitors. The list includes Alphabet (Google parent), Microsoft, and Walt Disney, Twitter CEO Jack Dorsey is a board member.

Facebook, for the moment, seem to be glaringly absent.

No assurance of an actual sale has been given as of time of reporting.

A similar rumor reared its head around the same time last year, although evidence points to more concrete reports this time.

Bloomberg notes that the biggest problem for Twitter is in its ability to be clear about its mission: whether it is a technology company or a media player.

It also has not found a way to monetize its over 300 million subscriber base. In comparison, Facebook and LinkedIn have fared better.

Twitter’s foray into becoming a major media player has not fared any better. Its prominence in the Rio Olympics did not increase engagement and a streaming deal with NFL is way lower than live TV. These misses have analysts saying that the Twitter stock being overvalued.

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