The past few months haven’t exactly been easy for Twitter’s CEO Jack Dorsey. Ever since he took back the reigns at the company he co-founded in 2006, he has had to let more than 300 employees go, see several top executives leave and witness his company’s stock price crumble to new lows.
Since the day Dorsey was named permanent CEO of the social media company in October 2015, Twitter’s stock price dropped by 40 percent, shaving more than $6.5 billion off the company’s valuation. Twitter’s market cap currently stands at $11.5 billion, down from almost $40 billion at its peak in December 2013.
Twitter’s low valuation has made the company a subject of acquisition rumors. After the News Corporation had dismissed takeover rumors earlier this year, another rumor surrounding Twitter’s possible acquisition by a group of investors surrounding venture capitalist Marc Andreessen surfaced on Monday. Twitter’s stock price is up almost 10 percent in early trading on Monday, as Wall Street appears to like the idea of tech investor Andreessen getting involved.