No One Wants to Buy Twitter, What's Next for the Social Media Giant?
The emotional roller coaster that is Twitter’s future seems to have hit a new low this week as Salesforce CEO Marc Benioff said his company has “walked away” from making a bid to buy it.
If you’re keeping track, pretty much every likely company has said they are not interested:
- Neither Google nor Disney plan to bid on Twitter, despite reports saying both were interested
- Apple is likely out of the picture
- Verizon immediately dismissed speculation that it was considering a bid
- Facebook is also said to be uninterested
- Microsoft’s name has been tossed around, no one seems to think the acquisition would make any sense for an increasingly enterprise-focused company.
Really? No one?
So it very much sounds like no one is going to make a bid on Twitter this week. Which means that the possibility of a Twitter acquisition, at least for now, appears to be over.
That’s going to put even more pressure on Twitter to figure out a way to restart user growth, which has ranged from “stalled” to “slow” over the past year. Twitter’s revenue has also been growing slowly, and it’s unclear if its new embrace of live video — like streaming NFL games and the presidential debates — has been helping.
Twitter will update investors on its earnings again two weeks from now, on October 27, and it’s likely the company will either address or be asked about where acquisition talks go from here.
Your guess is as good as mine about what is next for the social media giant. One thing is for sure, it seems like the failed acquisitions aren't fairing well over at Twitter.
In what seems like an attempt to fly under the radar (is that even possible anymore?), Twitter has made a sneaky move to lessen the media blow on it's upcoming quarterly earnings statement. It has been moved to 4:00 a.m. PST on Thursday. Normally tech companies tend to report after regular-day trading ends at around 1:00 p.m. PST. There are a lot of reasons for this — but, in general, it’s tradition. And it’s less of a nightmare for the Left Coast.
Earnings reports are usually watershed moments for public companies. However for Twitter, it is most likely a nightmare. Since co-founder Jack Dorsey took over the company (while still running his payments startup, Square) the stock is down nearly 40%.
And, even worse, today Twitter announced it is laying off 300 employees.
What do you think is next for Twitter? Can they survive? What do they need to turn around quickly?