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Twitter CEO moves to rally his troops as takeover rumours fester

Twitter’s CEO moved to rally his troops at the social media company on Tuesday even as rumours of a takeover begin to stagnate.

In a memo to employees obtained by Bloomberg, Jack Dorsey thanked his employees for their efforts while simultaneously urging them to carry on.

“The people who use Twitter every day deserve our best,” Dorsey said. “They are why we’re here. So let’s show them what we’re made of and deliver a better Twitter faster than they thought possible. We can do this every day,” he said, “We can do this!”

Takeover rumours

The upbeat tone of the memo comes against a backdrop of ongoing takeover rumours at the company, which has struggled to monetize and expand its user base after explosive growth.

Microsoft, Disney and Google’s parent company Alphabet all reportedly mullled an offer before backing out in recent days. The company’s lone remaining dance partner appears to be Salesforce, the CEO of which has expressed interest in the company but has thus far not come forward with anything concrete.

Salesforce shareholders are reporting worried about any deal, questioning its strategic merits and valuation. Salesforce shares gained almost 10 per cent on Monday once it seemed the company was not going to bid. The company is currently mulling putting in a lowball offer since there are no other bidders, Reuters reported Monday.

Twitter shares have lost 14 per cent since Friday, as investors digested the apparent lack of interest in the company from major deep-pocketed tech investors. The company is now worth $12 billion at current market prices.

Article source: http://www.cbc.ca/news/business/twitter-ceo-memo-takeover-1.3799807?cmp=rss