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I'd 'love' to see Twitter acquired for this reason: Early investor Chris Sacca

Chris Sacca, one of the earliest investors in Twitter, told CNBC on Wednesday that he would "love" to see the social media company acquired as that could boost innovation at the company.

Twitter has been struggling with user growth in recent months and it was also in the middle of intense takeover speculation with Salesforce and Google both reportedly taking an interest. But those takeover talks ended in mid-October.

Still, there is a chorus of voices that feel Twitter should be acquired. Sacca, who is also an investor on "Shark Tank", still feels the company could benefit from being acquired.

"I would love to see them in a partnership or an acquisition position with a company, just so they would get a little more product vision, maybe freedom to experiment and take some risk, because we just haven't seen that out of this team," Sacca told CNBC in a TV interview at the Slush technology conference in Helsinki.

Twitter chief executive Jack Dorsey has put a big emphasis on live video to boost growth. Earlier this year, Twitter signed a deal to live stream Thursday night NFL games and has experimented with broadcasting other sporting events. Dorsey sees live video as a way of attracting new users and advertisers to the platform.

Sacca said live video is "compelling" but Twitter is not leveraging its strengths to boost the experience.

"The problem is Twitter hasn't yet built a great Twitter-specific complimentary experience to live video. So you see the live video of the (NFL) game, but you really need the great high-quality tweets to go along with that to make it uniquely valuable for Twitter and they still haven't gotten there," Sacca said.