Twitter Surges After Report That It May Be Close To Sale
NEW YORK (CBS / AP) -- Twitter's stock surged Friday following a report that the social media company, forever struggling in Facebook's shadow, is close to a sale.
The business channel CNBC, citing unnamed sources, said Friday that Twitter Inc. has received "expressions of interest" from several technology or media companies and may receive a formal bid by the end of the year. It named Salesforce.com. and Google as possible buyers.
Twitter has failed to keep pace with Facebook Inc. and Snapchat as far as growth and a loyal fan base are concerned.
Salesforce.com said it doesn't comment on rumors and Google did not immediately respond to a request to talk about a possible deal.
Twitter soared $3.99, or 21 percent, closing at $22.62.
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