Thursday October 06, 2016

Twitter Shares Plunge On Report Bidders Are Scarce

Forget about the fact that no one wants to buy Twitter for a moment. What I really want to know is how a company that still hasn't turned a profit after ten years can have a $14 billion valuation. Even if someone bought Twitter, all they would have is a company that's only apparent super power is the ability to burn through money.

Twitter shares plunged on Thursday, a day after technology website Recode reported that Alphabet's Google and Disney would not bid for the social network and Apple was unlikely to be a suitor. The company has requested binding acquisition bids within the next two weeks, Reuters reported on Wednesday, and hopes to wrap up sale negotiations before the end of the month.