October 2016

Technology

Twitter To Forge Ahead On Its Own As No Buyers Stake Claim

twitEveryone who has an access to the internet would certainly be familiar with Twitter. The micro-blogging site has several millions of users who log in daily to share their tweets or posts of 140 characters. Despite an ever growing user base, twitter is still struggling to meet ends. The company is looking for ways to increase its growth in revenue. Salesforce the popular cloud platform took part in a negotiation with Twitter Inc. However, the deal failed to turn fruitful as Salesforce failed to take up Twitter’s offer on the sale.

Marc Benioff, the chief executive of Salesforce in a press release earlier stated that Twitter is an unpolished jewel and the company openly signaled interest for a tie up with the social media site. It is to be noted other popular firms like Google’s Parent company Alphabet and Walt Disney have expressed interest in the deal with Twitter.

The removal of Salesforce sent twitter shares further plummeting downwards. The shares of the micro-blogging site were already down due to the impediment of the sale. The failed sales further sent them down. The further increase in the share price will occur only when another company expresses interest in the micro-blogging site.

twit1Jack Dorsey, the Chief Executive Officer of Twitter however is hopeful that he can steer the firm in the right direction. He hopes to increase revenue by generating further advertisements on the site. Twitter currently holds a record of 313 million users and the numbers are further expected to rise in the next quarter. Also staff cuts are on the hold until twitter can get back its footing.

Twitter still holds a few cards up its sleeve. It has plans to join along with BuzzFeed, the online news platform and they plan to cover the presidential election minute by minute in November. However, investors seem to be losing faith and this is reflected in the downfall of the stocks by a further 33%.

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