Business Technology
twitter for sale Richard Drew/AP

The Twitter symbol appears above a trading post on the floor of the New York Stock Exchange in a photo taken July 27, 2016. Twitter's stock is soaring following a report that it may be moving closer to selling the business, Friday, Sept. 23. Twitters CEO Jack Dorsey has struggled to come up with a strategy to attract people to the messaging service, while Facebook and Snapchat race ahead in the battle for peoples attention and allegiance.

September 23, 2016

Twitter surges after report that it may be on the block

NEW YORK — Twitter's stock is surging following a report that the social media company, forever struggling in Facebook's shadow, is close to a sale.

The business channel CNBC, citing unnamed sources, said Friday that Twitter Inc. has received "expressions of interest" from several technology or media companies and may receive a formal bid by the end of the year. It named Salesforce.com. and Google as possible buyers.

Twitter has failed to keep pace with Facebook Inc. and Snapchat as far as growth and a loyal fan base are concerned.

Salesforce.com said it doesn't comment on rumors and Google did not immediately respond to a request to talk about a possible deal.

Twitter shares jumped 20 percent to $22.46 in midday trading, close to a high for the year.