Twitter is currently out of companies interested in purchasing it, as Salesforce has bowed out after its chief executive Marc Benioff said that it “wasn’t the right fit for us.”
In an interview with the FT, Salesforce’s head put an end to speculation that the company would make a bid for Twitter, especially after many had stated that it would be a bad move for the enterprise company. Ahead of his Dreamforce keynote last week, Benioff brushed aside questions about Salesforce’s interest in Twitter, telling CNBC’s Jim Cramer: “When it comes to Twitter, you have to look at it like this. Number one, we look at everything.”
The Wall Street Journal reported earlier this month that Twitter’s board would meet to discuss potential bidders, which had been rumored to be Google, the Walt Disney Co., and of course Salesforce. However, all of the companies mentioned have since indicated that they’re no longer interested in purchasing the company.
Twitter is facing increasing pressure by shareholders about its sluggish growth and apparent inability to turn itself around. Company chief executive Jack Dorsey’s return to the company in 2015 was heralded as an effort to restore the former glory Twitter once had. He has put a flag in the ground over live moments, saying that the company has been focused on that space for 10 years.
Shares in Twitter dropped by more than 5 percent in active trading following the news, while Salesforce’s rose 5 percent.
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