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Google, Disney, Apple won't bid for Twitter; stock plummets almost 10 percent

By midian182
Oct 6, 2016
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  1. The last few weeks have been awash with claims that several large companies are showing an interest in buying ailing social network/news site Twitter. The prospect of an acquisition sent the company’s share price soaring, but it seems this may have been slightly premature: all of the former suitors are no longer planning to make a bid for Twitter.

    Last month, Disney became the latest company to be linked with a possible Twitter takeover, but Recode reports that although the organization had considered a bid, it won’t be making an offer, according to sources familiar with the matter.

    Google has been showing an interest in acquiring Twitter for over a year. Many expected Sundar Pichai’s company to make a move; after the failure of Google+, it wouldn’t be a surprise to see Google try to break into social media with an established, if struggling, platform. However, sources close to the situation say Google won’t be moving forward with a bid.

    Apple was also thought to be considering an offer, but sources say that Twitter should have “low expectations” of hearing from the iPhone maker. With those three companies all but ruling themselves out, it appeared that cloud computing giant Salesforce was favorite to step in. But Business Insider reports that CEO Marc Benioff doesn’t seem that enthusiastic.

    "I think it’s a great brand and I just wish Jack [Dorsey] very well...good on his company, that’s how I look at it today," Benioff said. "We look at everything, and we don’t buy most things, and we haven’t agreed to buy that company [...] it’s an unpolished jewel."

    A Bloomberg report claims that the situation is made worse by an internal battle between CEO Jack Dorsey, who wants to keep Twitter independent, and co-founder and board member Ev Williams, who believes selling the firm is the best option. The in-fighting has reportedly led to Chief Financial Officer Anthony Noto seizing de facto control of the company.

    All this is bad news for Twitter. Its stock fell more than 9 percent to $22.58 in after-hours trading on the news that it’s struggling to find a buyer.

    Permalink to story.

     
  2. Skidmarksdeluxe

    Skidmarksdeluxe TS Evangelist Posts: 6,514   +2,059

    Maybe it was good thing for the CFO to take control of the company seeing he probably had nothing better to do and the coffee was lousy. There wasn't much in the way of finances to keep control over in that company as far as I can tell.
     
  3. alabama man

    alabama man TS Maniac Posts: 216   +129

    " on the news that it’s struggling to find a buyer."

    I can buy it. I bid 1 dollar.
     
  4. davislane1

    davislane1 TS Evangelist Posts: 3,564   +2,372

    They recently banned Ricky Vaughn, one of the most popular accounts. Imagine everyone's surprise when the account reappeared on Gab.ai with a huge following.

    Twitter is toast. Serious players are not going to bid on it. It's over.

    This is the fate of all converged organizations.
     
  5. Raoul Duke

    Raoul Duke TS Guru Posts: 930   +354

    Ya gotta love it. Lots of money changed hands. Some folks just got wealthier, some folks just got poorer (trading, share price varied tremendously) and meantime in the real world, f**k all useful just happened. And the companies that do this are the largest, most 'valuable' (cough) entities in my countries economy. WTF
     
    bluto 2050 likes this.
  6. davislane1

    davislane1 TS Evangelist Posts: 3,564   +2,372

  7. Theinsanegamer

    Theinsanegamer TS Guru Posts: 382   +339

    I'll go $3.50
     
    Adhmuz likes this.
  8. RebelFlag

    RebelFlag TS Addict Posts: 135   +67

    Crap! I was going to go $2, but now I am out.
     
  9. petert

    petert TS Enthusiast Posts: 91   +26

    That's gonna hurt exactly where it matters most to them - in their pockets!
     
  10. mbrowne5061

    mbrowne5061 TS Evangelist Posts: 340   +133

    I see you there, loch ness monster. Get outta here.
     
    Adhmuz likes this.
  11. Adhmuz

    Adhmuz TechSpot Paladin Posts: 1,653   +523

    Wait? Twitter is News? What has this world come to, oh yeah Fox News is somehow considered to be News... The world is doomed, but more importantly, so is Twitter!

    "Dammit, monster, I ain't givin you no treefiddy."
     
  12. bluto 2050

    bluto 2050 TS Enthusiast Posts: 157   +7

    Welcome to the tech sector stock pump and dump & ridiculously overvalued tech start up, IPO ,LLC venture cap carpet bagging and tech sector asset Obama outsourcing open border economy
     
  13. bluto 2050

    bluto 2050 TS Enthusiast Posts: 157   +7

    Who can name large scale consumer electronics ,phones and tech manufactured here ?

    Our universities and colleges love full profit list price foreign nationals (and give them admissions priority ) and tech likes the cheaper wages for same and the crony capitalism green energy subsidies .

    OTOH draconian policies , ridiculous and hostile overregulation and way too high corporate and business taxes have driven many of our large companies offshore .

    Nothing the government can't make worse ☺

    Above should read venture cap carpet bagging and overvalued tech sector asset and Bill Clinton /Obama/NAFTA /China world trade outsourcing open border economy's
    Maybe . Twitter and Yahoo are evidence of an impending bubble correction and Theranos may be a scam from the start .

    Nothing outside of a domestic civil war or losing a big war the government ,excessive deficit spending and or corrupt politicians and open border policies can't make worse and the republic still has a few months of Obama to end
     
    Last edited by a moderator: Oct 7, 2016
  14. Techstar

    Techstar TS Member Posts: 89   +16

    Twitter stock was overvalued, the market will naturally correct this, it's to be expected.
     

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