Twitter Inc., the San Francisco, California-based American multinational microblogging platform has been exploring an option of a sweeping overhaul of its businesses after several years of stagnation, the company said in a statement on Thursday.
On top of that, the Californian social networking tech conglomerate had also added that the company had been expecting its revenues doubling up by 2023 with a kickstart of a new paid feature named ‘Super follow’ that in effect would enable users to access a series of special contents.
Followed by the statement, shares’ prices of Twitter Inc. jumped to a record high of $80.75 earlier in the session, however had pared some of its gains in late-afternoon trading and winded up the day 3.71 per cent higher to $74.59 apiece.
Twitter teases new ‘Super follow’ feature
Aside from that, the American microblogging platform had also been quoted saying in the statement that the social networking Goliath was working out newer ways to have conversations in the site including a live audio discussion that would be using its ‘Spaces’ feature, while Twitter Inc.
was also planning to enable users to share longer-form contents using a newsletter publishing service Revue which the tech conglomerate had acquired in January. Apart from a paid ‘Super follow’ feature, Twitter Inc.
has been contemplating another concept that would let its users create ‘communities’ of particular interest. Meanwhile, citing a swathe of criticisms that the Californian social networking mogul had long been facing off, speaking at the start of Twitter’s virtual investor day presentation, the company Chief Executive Jack Dorsey said, “Why don’t we start with why folks don’t believe in us.
It comes down to three critiques: we’re slow, we’re not innovative, and we’re not trusted”. The social media network had also detailed a plan to bring in at least a $7.5 billion in annual revenues while snowballing its monetizable daily active users (mDAU) to 315 million by end-2023.