Following Google and Disney’s abandonment of its purchase intentions for Twitter, Salesforce officially announced that it had given up its bid for Twitter.
According to the British "Financial Times" report, Salesforce has already decided to withdraw from the bid for Twitter. Affected by this, Twitter's share price fell sharply by 0.91 US dollars in the regular trading on the New York Stock Exchange on Friday, a decline of 5.12%. Salesforce CEO Marc Benioff made a 180-degree shift in his interview with the media. He believes that Twitter is not suitable for Salesforce.
"We decided not to bid on Twitter, which is not a suitable option for our company."
Before you know, Salesforce has always been the company most likely to win Twitter, and most of the company executives have shown interest in Twitter.
Benioff explained to the media why he would abandon the acquisition of Twitter. The price and the company’s culture are the main reasons. However, insiders believe that pressure behind Salesforce shareholders is the key to Benioff’s choice to give up. In fact, there has been controversy within the company regarding the acquisition of Salesforce, and most of its shareholders are not optimistic about this acquisition. After announcing its abandonment of bidding for Twitter, Salesforce’s share price rose by 4.8%.
Needless to say, the departure of Salesforce will cause a major blow to Twitter.
Twitter now has an average active user of 313 million monthly months, but since its inception, Twitter has been struggling to achieve revenue growth and profitability. The company has never been profitable in the past 10 years; and in the most recent year, Twitter has received Facebook, The impact of Instgram and Snapchat, the number of users has basically stagnated.
Although Jack Dorsey, founder of Twitter, repeatedly stated that he has had information to revitalize Twitter and he has begun to transform into a media company, such as enhancing the layout of online video broadcast services, he eventually lost his skill and the share price continued to decline. , This makes Twitter headaches.
Last month, Jack Dorsey said for the first time that he was considering selling Twitter and hoped to win a glimmer of hope through sales. When the news came out, it was quoted by companies such as Google, Apple, Disney, and Salesforce. It seems that the resurrection of Twitter is just around the corner. Surprisingly, however, a dramatic reversal occurred in the story of just one month, and the original bidders almost all withdrew.
The sale of this road has been completely shattered. Twitter seems to be back at the starting point. The road before Twitter seems to be only operating independently, and its fate is still full of uncertainty.
After Salesforce gave up bidding for Twitte, Jan Dawson, chief analyst at investment firm Jackdaw Research, commented. “This means that at least for now, Twitter has to operate independently.â€
Twitter guessed the beginning, but did not guess the outcome, passed more than a month of acquisition news, this estimate is to stop.
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