Twitter has initiated talks with several tech companies to explore selling itself.
Twitter may be rethinking if it can survive as an independent company and has currently begun discussions to explore a sale.
According to CNBC, the company has received expressions of interest from several technology or media companies and may receive a formal bid shortly. At the moment, potential suitors include Google and Salesforce.
Twitter shares jumped more than 20 percent to $22.46 per share on the report of sales talks, marking the largest one-day rise since their first day of trading in 2013. The report pointed out that suitors are said to be interested as much in the data that Twitter generates as its place as a media company.
Recently, reports emerged that Twitter is laying off engineering staff in its Bangalore office, less than two years after it was set up.
According to a report, a source familiar with the issue claims just under 20 employees are being let go, roughly half the branch’s original workforce. However, the social network is reported to be maintaining the Bangalore office, as well as the ones in Mumbai and New Delhi.
Twitter commented on the layoffs saying, “(they are) part of our normal business review.” Meanwhile other tech companies in the city have set their eyes on the possible new recruits, including homestay and guesthouse booking platform Stayzilla.
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