Twitter (TWTR.N) shares plunged on Thursday, a day after technology website Recode reported that Alphabet’s Google (GOOGL.O) and Disney (DIS.N) would not bid for the social network and Apple (AAPL.O) was unlikely to be a suitor.
The company has requested binding acquisition bids within the next two weeks, Reuters reported on Wednesday, and hopes to wrap up sale negotiations before the end of the month.
Google was a likely contender for the microblogging service, Recode reported, but those familiar with the deal said the company was not moving forward with an effort to buy Twitter at this time… More at Reuters.
The problem with Twitter is that it is valued at more than $14 billion and for many people the future does not look rosy. It is very important to millions of people and is a superb platform, but monetising it never seems to get going.
Categories: Tech News