Twitter Inc. (NYSE: TWTR) jumped more than 5 percent after co-founder Evan Williams said in an interview with Bloomberg TV that the company would have to consider the right options amid the ongoing takeover speculation relating to Twitter.
In an interview Wednesday morning on Bloomberg TV, Williams first declined to comment on whether Twitter can remain an independent company, but he went on to say, “We’re in a strong position now, and as a board member we have to consider the right options.”
Since reaching a peak share price of $69 late in 2013 the stock has lost around 72 percent. Earlier this year the stock dipped to an all-time low of under $14 a share and lost 30 percent in value this year.
The company had been suffering slow user growth. The monthly user base is forecast to grow to nearly 290 million by the end of this year. But the company is facing strong competition from other social media such as Facebook (NASDAQ: FB), Instagram and Snapchat.
Twitter CEO Jack Dorsey, who took over in October last year, is trying to turnover the company. The company is trying to drive more revenue from advertising by offering exclusive sports and entertainment contents. It has signed deals with NBA and NFL to provide live sports contents.
“The right options” may includes a merger or an acquisition. Twitter has been in some takeover speculations over past months. The latest rumor was in early August, saying that former Microsoft Corp. Chief Executive Officer Steve Ballmer and Saudi Prince Alwaleed bin Talal Al Saud were teaming up to buy the company.