Twitter, which was ready for the flotation of the decade, might be in a problem now. The 7 per cent shares of the company have plunged after Salesforce negated its opportunity to run for the social media giant’s share race.
Marc Benioff, Chief Executive of Salesforce, has walked out of the potential bidding race. Beforehand, it was predicted that the cloud software company was the most preferable candidate for the business.
On the other side of the story; Walt Disney, Apple, and Google which earlier, along with their parent companies, were gearing up for the shares flotation have dropped too.
After this report came out, Twitter’s shares tumbled about 7% to $16.60, while those of Salesforce rose more than 6% to about $74.
The Twitter market saturation is expected to take place by the end of this year. But, it remains to be seen if the social media platform would be able to succeed in making a history or not.