Twitter (NYSE:TWTR) surged more than 20 percent on Friday

475

Twitter Inc. (NYSE:TWTR) gained more than 20 percent today on reports that the company will soon be receiving a high bid from a suitor, according to CNBC.

Possible contenders for the acquisition of San Francisco-based Twitter include Salesforce, Google and other high-profile tech names interested in the data its collected.

Twitter recently ratcheted down its revenue guidance to a range of $590 million to $610 million in the third quarter, a significant drop from the $681.4 million analysts had expected. More importantly, Twitter said it had “less overall advertiser demand than expected,” as brands decided not to invest in the platform, adding to ongoing concern about how it will continue to make money.

SHARE