Twitter's last serious suitor has dropped out of the bidding, leaving the messaging service without a potential buyer, according to a report on the Financial Times.
Salesforce was the only serious candidate left since Twitter opened itself to takeover offers, two people briefed on the sales process told the FT. But Twitter's advisors are still looking, even though the process is "virtually dead," the Times said, attributing that comment to "a person close to Twitter's senior management."
Other options: a buyout backed by wealthy investors, or activists trying to unseat CEO Jack Dorsey and forcing the board back to negotiations. "But both seem increasingly unlikely," the Times said.
One investor told the Times that the failed sales attempt could actually be good for Dorsey and Twitter. "Now we all know that [Mr. Dorsey] tried selling the company and nobody can be accusing him of not exploring that option," the investor said. "This has been a distraction for him and the company . . . The failure of the sale process is a blessing in disguise."
Previous suitors for Twitter included Google and Disney, according to reports.
What's next for Twitter? Doubling down on independence, according to a report Monday on Bloomberg, which claims to have gotten its hands on an internal message Dorsey sent to employees: "We can do this!" The message (as reprinted by Bloomberg) is signed with a heart emoji.
Dorsey says Twitter is "the people's news network -- the place to go when people want news."
I still stand by my earlier analysis: Twitter is potentially far more than a news network or a social network (its previous mission). It's a real-time cloud service, suitable for moving bits from one place to another anywhere in the world as close to simultaneously as the laws of physics will allow. That's valuable for the Internet of Things, for business transactions that use blockchain as the ledger, and a ton of other applications that if I were smart enough to figure out I'd be working on my first billion dollars now. (See Twitter's the Next Hypercloud Star (No Joke).)
- Salesforce, Microsoft Spar Some More
- Amazon Unlimited, Alexa, AI & How to Cut Off Google at Its Knees
- Schneider Electric Looks to Cloud to Solve Customer Identity Crisis
- Salesforce Adds Einstein AI to Commerce Cloud
- Twitter Soars on Takeover Rumors – Reports
- Salesforce Scoops Up Demandware for $2.8B
— Mitch Wagner, , Editor, Light Reading Enterprise Cloud