The drama around the eventual sale of Twitter seems to be an ongoing reality TV show. Almost two weeks ago, there were reports of it being bought by either the Search giant, Google and the CRM giant, Salesforce. That was not all as Disney was also reported to be considering to table a bid to buy the social network.
The above reported moves by these giant companies made Twitter’s stock surge and all looked rosy for a while. But it seems that euphoria is gone as Recode reports that two of these major companies have decided to drop out in the race to buy Twitter.
Apparently, according to sources, Google and Disney apparently are not going to make a bid for Twitter. While it made sense for Google or Disney to buy Twitter if you look at the data and video distribution aspects, it seems like the people they hired to see if it is a worth buy probably didn’t see it was a good idea.
There is also the case of the board wrangles in the company. According to Bloomberg, Jack Dorsey, Twitter’s co-founder and current CEO was in favour to let Twitter “remain on its current course and work to capitalize on recent improvements and success of streaming live video.” But, Ev Williams, Twitter’s co-founder and former CEO was in the favour of selling the social network and this sort of indecision doesn’t look good for the company.
If it will still be up for sale, the remaining one is Salesforce. But according to CNBC, Salesforce is also not too keen on the idea thanks to the CEO, Marc Benioff’s comments:
It’s in our interest to look at everything. We have to go deep on everything. We have 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 CEO, I think you’ll find that while I look at a lot of things, I actually pass on the most.
Also mentioned by Recode is the unlikely possibility of Apple being one of the possible buyers and they have been on a buying spree of late so it might actually happen. This saga is only unfolding and we will have to wait and see what will transpire.
