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Is Disney Buying Twitter?

Jack Dorsey, co-founder and chief executive officer of Twitter Inc., waves while walking the grounds during the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Wednesday, July 6, 2016. Billionaires, chief executive officers, and leaders from the technology, media, and finance industries gather this week at the Idaho mountain resort conference hosted by investment banking firm Allen & Co. Photographer: David Paul Morris/Bloomberg

According to Bloomberg report, Disney is looking to buy Twitter.

According to the Variety magazine:

Twitter has been struggling with its turn-around that was supposed to begin when its co-founder Jack Dorsey took over as the company’s permanent CEO a year ago. Despite building a solid advertising business, investors have been wary of the company’s growth issues; growth essentially came to a standstill last year, and has only been slowly recovering in recent months.

After the announcement, Twitter stock went up to $23. Other potential bidders are Google and Salesforce. Twitter board is reportedly looking for at least $30 billion. After the news broke about the potential Twitter sale, the company raised $3 billion within a week.

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