Twitter is aiming to wrap up its sale before the month is out, according to Reuters.
The social networking company has told potential acquirers that it wants negotiations to be concluded in time for its third quarter earnings report on October 27th.
Binding acquisition offers are due in the next two weeks, with the likes of Walt Disney, Salesforce and Google’s parent company Alphabet all rumoured to be among those in the running.
Recode reported that Google was not moving forward with a bid on Wednesday, citing unidentified sources, while Salesforce CEO Marc Benioff also told an analyst meeting that he was not interested yesterday.
“I think it’s a great brand and I just wish Jack [Dorsey] very well...” he said. “Good on his company, that’s how I look at it today.”
The purchase of the site comes with its own set of problems which, as the Wall Street Journal notes, would include "taking down accounts linked to terrorism, curtailing rampant online bullying, simplifying the service to attract a mainstream audience, and competing with social-media rivals like Facebook Inc."
Despite having approximately 313 million average monthly users, Twitter has struggled to turn a profit and generate growth. Rivals Instagram and Snapchat have also quickly passed out the service when it comes to users.
Twitter’s head honcho Jack Dorsey, the co-founder who returned to the company as CEO less than a year ago, is looking to provide shareholders and employees with clarity regarding the company's future, but he has set himself a very short time frame within which to do so considering Twitter only started considering a sale last month.
