- Getty Images/ Brian Ach
Twitter’s plummeting stock price has led to occasional chatter about it being a buyout target.
But with $3.5 billion in cash on its balance sheet, Twitter views itself as a buyer of other tech companies.
During Twitter’s Q1 conference call on Tuesday, CFO Anthony Noto hinted that the company may be about to embark on a corporate shopping spree. Of particular interest to Noto are so-called ad-tech companies, the behind-the-scenes nuts-and-bolts systems that underpin the internet’s automated-advertising economy.
“The fact that we have the amount of cash on the balance sheet, over $3.5 billion, leaves us with the strategic optionality to look for those assets that are game changing,” Noto said on the call.
“And we’re focused … not just on consumer-capture devices, but we’re also focused on other opportunities that have scaled audiences to leverage our great monetization vehicle, and we’re also focused on ad-tech technology to continue to build out our ad-tech stock,” he said.
“At the end of the day, our goal is to be a one-stop shop for advertising,” Noto said.