Struggling Twitter To Rent Out Office Space

Posted: Aug 9 2016, 12:57pm CDT | by , in News | Latest Business News

 

This story may contain affiliate links.

Struggling Twitter to Rent out Office Space
Photo Credit: Getty Images

Don't Miss: This How to find Fingerlings in Stock

The beleaguered micro-blogging website Twitter is looking to rent space at its headquarters in San Francisco to other companies.

According to sfgate.com, Twitter has contacted San Francisco brokerage firm Cresa to market 183,642 square feet of "fully furnished" office space at its two buildings in Market Square.

"We're always looking at ways to use our office spaces more efficiently and effectively. We remain committed to our home in San Francisco's Mid-Market area," a Twitter spokesperson was quoted as saying.

Earlier this year, Twitter was considering renting out a partial floor of its Market Street headquarters to financial technology firm Affirm but the deal fell apart.

According to reports, Twitter is also seeking to rent out 24,000 square feet in its Manhattan office.

Earlier this month, there were rumors saying that former Microsoft chief executive Steve Ballmer was buying the micro-blogging website.

There were multiple reports, saying that Ballmer and Saudi Arabia's Prince Al-Waleed bin Talal were getting ready with a bid to buy Twitter.

Twitter was yet to respond to the rumor.

Earlier, although it added three million users -- one million more that what analysts had expected -- the not-so-promising second quarter earnings results led to the shares of micro-blogging website Twitter tumbling.

The company posted quarterly revenue of $602 million, up 20 per cent year-over-year and reported $107 million GAAP net loss ($0.15 per share) with quarterly non-GAAP net income of $93 million ($0.13 per share).

A year ago, the year-over-year growth was 61 per cent and two years back, it was a whopping 124 per cent.

The average monthly active users (MAUs) were 313 million for the quarter, up only 3 per cent compared to 310 million in the previous quarter.

The micro-blogging website is now looking at the video and news streaming space to revive its fortunes.

Holiday Gift Guides and Deals

Get your Holiday gifting inspired by Best Toy Gifts with High STEM Value and the Top 10 toy gifts under $10 if you are on budget. The most popular Holiday 2017 toy list include Fingerlings, Crate Creatures and more. Don't miss the new Holiday deals on Amazon Devices, including $29.99 Fire tablet.

This story may contain affiliate links.

This free App Solves You Holiday Shopping Problem


Download the free Tracker app now to get in-stock alerts on Fingerling, Luvabella, SNES Classic and more.

Latest News

Comments

The Author

<a href="/latest_stories/all/all/59" rel="author">IANS</a>
The Indo-Asian News Service (IANS) was established in 1986, initially to serve as an information bridge between India and its thriving Diaspora in North America. Now IANS is a full-fledged wire agency, putting out news 24x7 from around the world.

 

 

Advertisement

comments powered by Disqus