Salesforce won’t bid for Twitter, no major players left

Twitter may not be bought, at least not as fast as the company may have ever wanted this month.

Salesforce, the CRM company that was seen as most likely to acquire the social media platform, has struck down the possibility for a bid, its CEO said.

“In this case we’ve walked away,” Marc Benioff told the Financial Times. “It’s not the right for us for many different reasons […] You’re going to look at price, you’re going to look at culture, you’re going to look at everything.”

The company has been going after Microsoft’s $26 billion acquisition of LinkedIn last year, urging the European Union to block the sale.

One person “close to Twitter’s senior management” said that its sales process is pretty much over. Still, the company is still trying to find suitors after Verizon, Microsoft, Google, Disney, Apple and Facebook turned down participation in what was essentially a blind auction for its ownership.

Twitter, hoping to make for a quick sale to report to investors on October 27, now has to find its own way to profitability, something it has not achieved in its near-decade of existence. Founder-turned-CEO Jack Dorsey has tied Twitter with media services to provide livestreams of NFL games and other coverage around the US presidential election. He’ll have to do more in the coming months to navigate between its users and all the money lords it serves.

Source: Financial Times
Via: Reuters

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Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.