Salesforce Has Pulled Away From Buying Twitter And Shares Are Down 6%

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Twitter has been embroiled in a saga where reports have been flying around on its potential sale to some tech companies. Now the last company that was considering to buy the company has decided not to do so.

According to Financial Times, Salesforce has ruled out from bidding for Twitter which has brought an end to the whole saga about the eventual sale of the social network. “In this case, we’ve walked away,” Marc Benioff, Salesforce’s CEO was quoted by the publication, “it wasn’t the right fit for us.”

Apparently, Benioff was under fire from the company’s shareholders over the decision to buy Twitter where they questioned why a company of its nature of selling sales software would want to buy the social network. He was asked by the publication if the price was the deciding factor and he said “You’re going to look at price, you’re going to look at culture, you’re going to look at everything.” He had apparently told the shareholders that they wanted to access Twitter’s data which would have allowed Salesforce to “enhance its services” for its customers.

This news will definitely have an effect on Twitter’s shares where now currently they have dipped almost 6% after the news of Salesforce pulling out of the deal. The last time Twitter was involved in a takeover bid involved Google and Disney deciding not to buy the struggling social network each giving their own reasons.

This could also be a chance for Jack Dorsey, Twitter’s CEO to make sure that the employees now focus on improving their product which has lately being improving their core experience which includes such efforts like livestreaming and changing how the tweet characters are counted.

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