At the end of the trading day on the New York Stock Exchange, the American corporation yet regained the lead, while the aggregate market value of its Chinese competitor was $ 600 million less than that of Twitter.
Weibo social network was created in 2009 as Twiiter’s clone. In 2014, after the initial public offering (IPO), Weibo capitalization numbered $ 3.4 billion, while market capitalization of Twitter exceeded $ 26.5 billion.
Twitter is being in decline as the company is not able to attract new users anymore, writes Mashable. Over the past 12 months, the microblogging service has lost five million active users. Weibo, on the contrary, keeps growing. 70 million new active users registered in the social network in the past year.
Following the auction, price of Weibo’s share on October 18 was $ 52.91 and the market capitalization of the company reached $ 11.41 billion. J.P. Morgan estimated that current positive dynamics of the company’s development could bring value of its shares up to $ 70 per unit by mid-2017.
October 6, 2016, shares of Twitter fell more than 20%. This collapse took place thanks to reports that all of the main bidders for the company refused to purchase the microblogging resource.
Salesforce was last of the contenders to refuse purchase of Twitter. According to the company’s Head Marc Benioff, such a deal "is not suitable for them for many reasons." Sources of Financial Times believe that Head of Salesforce took the decision under pressure of the company’s shareholders, who did not like the very idea of acquisition of Twitter. Thus, the last serious contender for purchase of the microblogging service abandoned the field.
Previously, Microsoft, Google, Apple and Disney, also mentioned as potential buyers, refused the acquisition. The applicants consulted with banks on feasibility of acquiring the social network, and representatives of financial institutions advised not to buy Twitter.
Following Benioff’s statement, shares of Twitter Inc fell nearly 6%, dropping the company's market capitalization down to $ 11.6 billion. Thus, in comparison with December 2013 when value of Twitter has reached the highest value at $ 53 billion, the microblogging service has fallen more than 4,5 times. It is reported that the social network’s consultants are still looking for other potential buyers.
source: xinhuanet.com
Weibo social network was created in 2009 as Twiiter’s clone. In 2014, after the initial public offering (IPO), Weibo capitalization numbered $ 3.4 billion, while market capitalization of Twitter exceeded $ 26.5 billion.
Twitter is being in decline as the company is not able to attract new users anymore, writes Mashable. Over the past 12 months, the microblogging service has lost five million active users. Weibo, on the contrary, keeps growing. 70 million new active users registered in the social network in the past year.
Following the auction, price of Weibo’s share on October 18 was $ 52.91 and the market capitalization of the company reached $ 11.41 billion. J.P. Morgan estimated that current positive dynamics of the company’s development could bring value of its shares up to $ 70 per unit by mid-2017.
October 6, 2016, shares of Twitter fell more than 20%. This collapse took place thanks to reports that all of the main bidders for the company refused to purchase the microblogging resource.
Salesforce was last of the contenders to refuse purchase of Twitter. According to the company’s Head Marc Benioff, such a deal "is not suitable for them for many reasons." Sources of Financial Times believe that Head of Salesforce took the decision under pressure of the company’s shareholders, who did not like the very idea of acquisition of Twitter. Thus, the last serious contender for purchase of the microblogging service abandoned the field.
Previously, Microsoft, Google, Apple and Disney, also mentioned as potential buyers, refused the acquisition. The applicants consulted with banks on feasibility of acquiring the social network, and representatives of financial institutions advised not to buy Twitter.
Following Benioff’s statement, shares of Twitter Inc fell nearly 6%, dropping the company's market capitalization down to $ 11.6 billion. Thus, in comparison with December 2013 when value of Twitter has reached the highest value at $ 53 billion, the microblogging service has fallen more than 4,5 times. It is reported that the social network’s consultants are still looking for other potential buyers.
source: xinhuanet.com
