According to reports in the U.S., Twitter is on the verge of being sold and Alphabet Inc., the parent company of Google, is among the main companies interested in buying it.
Twitter to be owned by Google? Photo Credit: Reuters / Channel 2 News
According to a report on CNBC today (Friday), Twitter is on the verge of selling its shares. The main company interested in buying the social network’s shares is none other than Alphabet Inc., the parent company of Google.
According to the report, Alphabet Inc. has recently expressed its interest in Twitter’s shares in order to expand its activity in the field of social media. A senior-level source was quoted in the report confirming that Twitter was in fact expected to be sold. However, at the time there are no reports regarding any concrete deal and the source noted that the deal was “still in its infancy.”
Following the report, Twitter’s shares rocketed by 17% five minutes before the beginning of the trading day on Wall Street. Twitter’s shares have been on a constant rise since last January and have now reached an all-time high and are being traded for more than 22 dollars.
This is not the first time that Twitter has been at the center of rumors regarding a possible buyout and previous reports have claimed a possible sale to various technology companies across the globe.
Twitter’s market value is appraised at more than 23 billion dollars. The social network employs more than 2,000 workers and has more than 300 million users a month. If Twitter will in fact be sold to Google, the deal is expected to surmount even the 19-billion-dollar sale of WhatsApp to Facebook.