Report: Twitter Expected to Take Bids This Week
Twitter is expected to take bids for the company this week, according to the Wall Street Journal, who place Salesforce, Google, and Disney at the top of the potential bidders list.
“[Salesforce CEO] Mr. Benioff is looking to make a splashy acquisition that would secure for Salesforce a treasure trove of data as well as a prized consumer brand,” wrote Monica Langley for the Wall Street Journal, after being informed by “people familiar with the matter.”
“Mr. Benioff, whose recent approach to Twitter set off the bidding process, sees the social-media pioneer as an ‘unpolished jewel’ with untapped potential in advertising, e-commerce and other data-rich applications he regards as important to the cloud-software juggernaut’s next phase of growth,” she reported.
Langely listed Benioff’s weaknesses, however, including the fact that Salesforce is only worth roughly $49 billion, the lowest out of Twitter’s current expected bidders.
“While Twitter could cost upward of $20 billion, or more than a third of Salesforce’s roughly $49 billion market value, it would be more bite-sized for Google, the search powerhouse whose parent sports a market value of more than $500 billion,” explains Langely. “Disney, meanwhile, has a market capitalization of almost $150 billion.”
Benioff reportedly lives in the same San Francisco neighborhood as Twitter CEO Jack Dorsey, while Dorsey is a member of the Walt Disney Company’s board of directors.