Twitter Talking Sale with Google and Salesforce

Twitter logo IRL office HQ
Twitter has reportedly initiated talks with a number of technology companies to explore the possibility of selling itself, as the social media firm continues to lose money despite its high profile within the tech world and beyond.

Despite evolving into a global source for news, entertainment and social commentary over its 10-year existence, Twitter has faced slowing user growth and has struggled to monetise itself, with losses running at hundreds of millions of dollars every year.

Rumours of a sale have hounded the company for over a year, as it struggles to rejuvenate the flagging user growth that was once its primary selling point to investors.

According to CNBC, Twitter is in talks with Google and may receive a formal bid soon, while Reuters is reporting that is also interested in acquiring the social network.

Although none of the parties involved have confirmed talks are taking place, Twitter shares jumped more than 19 per cent on Friday due to the rumours, the largest one-day rise since their first day of trading in 2013. The company now has a value of around $16bn (£12.4bn).

While Twitter is still seen as a powerful real-time communication platform, it has failed to keep pace with rivals like Instagram and Snapchat, which focus on photo and video sharing, unlike the text-heavy Twitter.

It has also failed to step into the over-the-top messaging arena to compete with services like Facebooks Messenger and WhatsApp, and faced considerable criticism over a failure to deal with abuse on the platform.

Current CEO and co-founder Jack Dorsey returned to the company last year in an effort to turn around the service, but high profile efforts to pivot to live video, like the companys recent deal to stream NFL games, have yet to be reflected in boosted user growth or ad sales.