Twitter Stock Rockets Amid Buyout Rumors

     (CN) — Twitter’s stock price exploded by more than 20 percent early Friday after CNBC reported said that the company was progressing toward a sale, with Google and Salesforce.com among the interested suitors.
     The report said the two companies aren’t the only ones interested in Jack Dorsey’s startup, which has “several” potential bidders.
     Twitter’s market cap reached about $15 billion Friday, limiting the number of potential buyers. Google has been connected over the past year to a potential purchase of the social media company.
     While seen as a valuable tool for disseminating news and providing large coverage of major social events, Twitter has lagged behind Facebook and Snapchat in terms of growth and fan loyalty.
     A sale by the end of the year is a possibility, according to CNBC’s unnamed source.
     TechCrunch reported Friday that Verizon is also interested in purchasing Twitter. Verizon owns TechCrunch’s parent company AOL, and is also in the process of buying Yahoo. Verizon has not commented on the report.
     Both Google and Salesforce declined to comment on a potential purchase of Twitter.
     Bloomberg reported Friday that Goldman Sachs is helping Twitter talk to potential buyers. Twitter declined to comment in a statement to Bloomberg.
     Twitter’s declining stock value has led to speculation that the company could be sold in the near future.
     Shares closed at $22.62 Friday, its highest close since December 2015.

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