The stock shot up after rumors of an apparent buyoff loomed, Barron’s reported. Twitter has brought in Goldman Sachs to fight off the two suitors, which may include Google, Facebook and Yahoo—all interested in owning the microblogging giant.
Twitter has been growing slowly and faces more criticism every month as its 300 million user-base starts to look for new ways to utilize the site. It has resulted in the CEO Dick Costolo confirming it has a major harassment problem, which it will try and fix.
Even though the site makes a good amount of revenue, profitability has never been a key focus of Twitter. It is resulted in less than spectacular results compared to other key social players like Facebook, Snapchat and Pinterest.
Facebook has already acquired two major social services: WhatsApp and Instagram. Albeit Twitter is worth a lot more than both with a market capitalisation of just over $32 billion, but that is not out of Facebook’s budget.
