Twitter Will Rely More On Video Now As Acquisition Bids Dropped

Twitter has more than a few problems. It’s struggling with growth and it needs to make money. Some of the steps it has taken recently have yet to pay off. It was reported last week that major companies like Disney, Google, and Salesforce were all considering to make an acquisition bid for the microblogging network. It appears that they have now dropped plans of acquiring Twitter as a result of which the company will increase its focus on live video.

Twitter was reportedly divided internally about whether or not it should sell if a bid is formally submitted. It never got around to that and for now it appears that none of those companies are willing to make a proper bid.

The microblogging service has recently adopted a live video streaming strategy, hosting all kinds of content including but not limited to games and presidential debates. It’s now said to increase its focus on this strategy to try and turn its fortunes around.

People familiar with the matter cited in the report also claim that Twitter has also considered other short-term solutions as well which involve selling off some of its assets that are not central to its business. It’s unclear what those assets might be.

Twitter has never ruled out the possibility of a sale since it’s a public company and has a duty to take acquisition bids to the board and shareholders, but it remains to be seen now if any of those companies will reconsider their position on this matter.

Adnan Farooqui
Categories: General
Tags: Twitter