Middle-east Arab News Opinion | Asharq Al-awsat

Twitter for Sale, Companies May Soon Bid | ASHARQ AL-AWSAT English Archive 2005 -2017
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People holding mobile phones are silhouetted against a backdrop projected with the Twitter logo in this illustration picture taken in Warsaw September 27, 2013. REUTERS/Kacper Pempel/Illustration/File Photo

Jeddah – You might be using Twitter under a new administration in the near future as news circulated in technology circles saying that some companies may soon officially bid to buy Twitter.

Reports revealed that Google, Alphabet, may be interested in acquiring Twitter. Asharq Al-Awsat reached to Twitter MENA representative who said the company hasn’t issued an official statement yet.

CNBC revealed that Twitter is meeting with possible suitors, and TechCrunch reported that “Twitter currently has a market cap of $13.3 billion, and it opened for trading today with a jump of nearly 22%.”

Reports said that Google and SalesForce.com are the possible buyers with Microsoft and Verizon have also been reported as potential suitors.

Current negotiations are happening with 23 tech company although it is possible for Google to take the acquisition given that it hadn’t achieved in presenting the public with convincing social network.

According to media report, Twitter is leaning towards selling and an informed source at the negotiations told CNBC that it is possible that the deal could happen by the end of this year.

Morningstar analyst Ali Mogharabi believes the victor is likely to be Alphabet, which is Google’s parent company, which is a better strategic fit.

According to Mogharabi, the final sale price is likely to be around $22 per share.

Twitter has been trying to attract more users recently with many deserting the application for more youthful ones like Snapchat who is now referred to as Snap.

The migration from Twitter to other applications is due to the fact that Twitter began in 2006 at a time where the services and speed was not available everywhere. But with the iPhone in 2007 and camera phone and later applications, young users abandoned Twitter for something else.

Twitter tried to offer other services to its users like verifying accounts, a feature which was a paid service or available for celebrities. In addition, Twitter launched polls and integration with Periscope live application.