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No buyer for Twitter as Salesforce quits race

IANS  |  New York 

In a bad news for Twitter, its last potential buyer Salesforce has decided not to make a bid to buy the struggling micro-blogging website.

Salesforce CEO Marc Benioff told the Financial Times that he has "walked away" from making a bid to buy Twitter.

Earlier, Google, Apple and Walt Disney also decided not to bid for the website.

Twitter stocks fell significantly this week after Google and Walt Disney reportedly ruled out to acquire the struggling micro-blogging platform.

Twitter is expected to announce its next quarterly earnings on October 27.

The acquisition of Twitter -- struggling to add new users amid stalled growth -- may cost over $20 billion.

It currently has 313 million monthly active users.

--IANS

na/py/

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, October 15 2016. 10:16 IST
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