Oct 07, 2016 09:48 AM EDT

Twitter Losts Disney and Google's Bid

By jen master
Social Media Site Twitter Debuts On The New York Stock Exchange
LONDON, ENGLAND - NOVEMBER 07: In this photo illustration, The Twitter logo is displayed on a mobile device as the company announced it's initial public offering and debut on the New York Stock Exchange on November 7, 2013 in London, England. Twitter went public on the NYSE opening at USD 26 per share, valuing the company's worth at an estimated USD 18 billion. (Photo by Bethany Clarke/Getty Images)
(Photo : Bethany Clarke)

Twitter lost Disney and Google as bidders on its anticipated sale on Oct. 27, as the two companies decided not to move forward with the bids, Variety reported.

The Wall Street Journal said according to a source from Alphabet Inc.'s Google, it has no plan to make a bid for Twitter while Walt Disney Co. would not make any offer at all. This runs counter to reports that Google and Disney, along with Salesforce.com Inc., were the most likely ones to make a bid for Twitter after the company announced itself up for sale.

Earlier reports said that Disney may bid for Twitter for the purpose of distributing video streaming to a global audience. Many were actually surprised that Disney was named as a candidate for the bidding. News outlets also said that the reason for the inclusion of Disney as Twitter's potential buyer is the close relationship between Jack Dorsey, who is a member of the board of Disney's and Bob Iger, the media group's chief executive who has made acquisitions that have paid off for Disney like Pixar, Marvel and Lucasfilm. And since Disney is trying to find new and attractive ways to reach online market, reports said that Disney may buy Twitter.

Reports said that the announcement of sale was made following a lower than expected profit for Q2.

However, Salesforce CEO Marc Benioff explained some of the reasons why he may opt to buy Twitter.

"When it comes to Twitter you have to look it like this," said Benioff at the Dreamforce conference this week, The Forbes reported. "We look at everything, you name it we had a look at it. It's in our interest to look at everything. We have to go deep on everything. We have to understand what is possible for our shareholders and what isn't."

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