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Business

Salesforce says Twitter 'wasn't right for us'

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Business

Salesforce says Twitter 'wasn't right for us'

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COMING UP:Salesforce says Twitter 'wasn't right for us'

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Transcript

00:00:01
>> Yet another potential buyer shirking away from a deal for Twitter. After weeks of speculations, Salesforce CEO Marc Benioff ruling out a bid. Telling the Financial Times that Twitter quote, wasn't the right fit for us. Twitter stock plunging on the news but Salesforce shares moving higher Friday. Reuters Tech Editor Jonathan Weber from San Francisco.
00:00:23
>> The Salesforce took a hard look that the Salesforce shareholders had a very poor reaction to the idea of Salesforce buying Twitter. The fit has never been particularly obvious. I mean, Twitter's a consumer media company and Salesforce is a business software company. Now there are some things that Salesforce can do with Twitter data and things like that but they don't necessarily have to buy Twitter to do those things.
00:00:48
>> Reuters previously reported that Google and Disney had also backed away from making offers for the social media company.>> On some ways the whole sale process around Twitter, there's been a lot more noise than action from the very beginning. So we're kinda back where a lot of people though we were gonna be, which is they're not gonna be sold this year.
00:01:07
And if they can turn it around fine and if not, the stock will go down further and they'll get sold next year.>> Sources say Twitter hoped to conclude deliberations about selling itself by October 27th when it reports it third quarter earnings.