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Former CEO Dick Costolo thinks Twitter can still 'be a successful, independent company'
(Dick CostoloGetty Images / Kevork Djansezian)
One person who thinks Twitter still has a shot at staying an independent company: former CEO Dick Costolo.
During a Monday interview on Bloomberg TV, Costolo touched on the reports that Google, Disney, Salesforce, and others are eyeing a bid at Twitter.
“Well, I’ve said for awhile that I think Twitter can be a successful, independent company," Costolo said when asked about potential Twitter suitors by Bloomberg's Brad Stone. "I’ve also said that I think the world of the team over there. I think Jack thinks beautifully and elegantly and clearly about product direction. Anthony and Adam and Vijaya and the rest of the senior leadership over there are tremendous.”
When pressed about whether he thinks Twitter will have to sell itself, Costolo said, "I don’t think that’s the only possible outcome. I think there are a lot of different ways Twitter can be successful.”
Costolo was the CEO of Twitter for five years until he suddenly stepped down last summer. He is now working on a new fitness startup called Chorus and is also a partner at the VC firm Index Ventures.
Twitter has been battling stagnant user growth for awhile and only grew its monthly active users in the second quarter by 3% year-over-year. As investors have beat down the company's stock and compressed Twitter's market cap, speculation has swirled that the social network could become a takeover target.
The latest round of acquisition rumors started last month when Evan Williams, a Twitter cofounder and board member, said the board would have to "consider the right options" when it comes to outside interest in acquiring the company.
Since then, numerous reports have said that Google, Salesforce, Disney, and potentially others have looked at acquiring Twitter.
The social network posted a net loss of $107 million on $602 million in revenues for its second quarter earnings this year.
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