Shares climbed as much as 21%, giving the company a market value of close to $16bn (£12bn). Twitter’s board of directors is said to be interested in a deal.
Google and cloud computing company Salesforce were among those in talks with the social media company, according to USA broadcaster CNBC.
Experts say Google makes the most sense to buy Twitter, as it has the money and hasn’t been able to get its own social media efforts to take off. As an alternative, it could buy Twitter in a cash-and-stock deal too. The company went public in 2013 but has struggled to grow and retain its user base.
A Twitter spokesperson did not immediatley respond to a request for comment on the rumors of a sale.
According to reports from CNBC and TechCrunch, Twitter Inc. has already had expressions of interest from a number of technology companies and is likely to receive formal bids soon. Google, and others, are interested in Twitter due to the data that the social network has, and their users generate on a daily basis.
As rivals such as Facebook’s Instagram and Snapchat gain traction with advertisers and social media users, investors have questioned how long Twitter could persist as a stand-alone company. Earlier this year, Salesforce was reported to be bidding for LinkedIn, which was eventually bought by Microsoft for $26.2 billion. This, despite Twitter co-founder Jack Dorsey returning to the firm as chief executive a year ago with a long-term strategy to turn the business around. American wireless service provider Verizon was until recently being viewed as a potential buyer of Twitter but the company has stated that it was yet to submit bids.