The news has investors excited; at the time of writing, Twitter's share price has rocketed 20 percent and is climbing steadily. CBNC says that the company has "received expressions of interest" from numerous parties but has not yet received a formal bid -- although one could come shortly.

Google, which has tried and failed numerous times to innovate in the social media space, has the resources to buy the company but also to accommodate Twitter's global team. Salesforce, known for its CRM tools and cloud computing expertise, is also extremely cash rich and could add Twitter to its diverse line-up of social and cloud enterprise services. (Update: TechCrunch also reports that Engadget's parent company Verizon, as well as Microsoft, are also in the running).

Sources have indicated that suitors may be more interested in Twitter's data than its position as a media source, which admittedly doesn't sound great for users. But then again, what social network isn't monetizing its users nowadays?