Twitter Inc. (NYSE:TWTR) is expected to receive acquisition bids this week, the Wall Street Journal reported.
Salesforce.com Inc. CEO Marc Benioff was working to persuade his company’s investors and others that Twitter is a good fit for the company, people familiar with the matter told the Wall Street Journal.
Mr. Benioff, who lost to Microsoft in the battle for LinkedIn, considers Twitter as an “unpolished jewel” with untapped potential in advertising, e-commerce and other data-rich applications. He believes the social media company will generate untold reams of data from its hundreds of millions of users, which helps Salesforce create recommendations and insights for its corporate customers.
“Data is the currency in software’s new world order,” he said in an interview this past weekend, though he wasn’t specifically speaking about Twitter. “I’m looking hard at unique data-rich companies and what I can do to make them more powerful and innovative if combined with Salesforce.”
Salesforce faces competitions from Alphabet’s Google and Walt Disney, who also attempt to buy the social media company. The WSJ said Twitter may have a valuation of $20 billion or more and it also said there is no guarantee any bid will come in high enough to entice Twitter to sell, and the company could remain independent.
Twitter shares jump 4.59 percent to $24.60 in the early trading, while Salesforce shares plunge as much as 6.50 percent to $67.89. The movement shows that investors seem not positive with this deal.