Twitter for sale

Microblogging site Twitter is reportedly up for sale and the prospective bidders include Google, Apple, Salesforce, and Disney. Twitter generates more than $2 billion per year in terms of revenue.

A report published by Recodes states that the stock market is freaking out over a report that Google is dropping out of the race to buy Twitter. Other rumoured bidders, including Apple and Disney, are also expected to pass.

Twitter stock, which had been climbing steadily upward since news of a possible sale surfaced, fell 20% to $19.87 after the key contenders is reported to have opted out of the race. That brought the stock within 7% of where it traded before the earlier deal news.

The most prospective contender right now is believed to be Salesforce, which offers a CRM platform to help companies manage their relationships with customers. It is believed that since most companies use Twitter to communicate with their customers, the acquisitions will help to enhance Salesforce’s customer tools. Earlier, Salesforce has lost out to Microsoft in a bidding war to LinkedIn, however, this time, it looks like the CRM giants might hit the right note.

A Wall Street Journal report stated, “Twitter had a nearly $15 billion market value as of Thursday’s close, which would make it a big bite for Salesforce, now worth $46 billion. If Salesforce were to strike a deal for the consumer-focused company, it would be the largest acquisition in its history and take it in an entirely new direction.”