Twitter facing sale, according to US television
The short message service Twitter, which has come under pressure, is about to be sold, according to a US television report. The company is moving toward a takeover, the broadcaster CNBC reported on Friday, citing insider information.
A sale is not imminent. However, there are interested parties, including cloud specialist Salesforce and Google. Twitter's shares shot up by a good 17 percent in pre-market trading in New York after the report became known. Growing competition from rivals such as Snapchat and Instagram caused Twitter to post its smallest revenue increase in the second quarter since its IPO in 2013.
The Group is also losing more and more ground to the Internet top dogs Google and Facebook. Advertising customers are giving the company a wide berth. In addition, a number of top managers have recently turned their backs on the company. Company co-founder Jack Dorsey returned to the top a good year ago to turn things around. He relies primarily on video offers. (SDA)
