Twitter has cut 350 jobs after a rough few months with one of its assets, Vine, a video sharing platform and app being completely discontinued. Twitter's revenue was $616 million in its last quarter and made a loss of $102.8 million.
CEO and founder Jack Dorsey says that he plans on stabilising the platform and remaining its services however the lack of income for the company is what is making it hard to sustain as it was even put up for sale with companies such as Apple and Disney being in the talks of purchasing the company but later backing off due to not having a company plan that will not lose money each year and rather turn profit which is the reason for no deals being done at this point.
- Twitter has 313 million monthly active users.
- 1 billion monthly visits to sites embedded with tweets.
- 82% users are active on mobile.
- 40+ supported languages.
- 35+ offices around the world.
In my opinion I don't think Twitter can simply vanish because it is too big of a company with too many active users to simply just close the platform. Millions of businesses and public figures use this platform to communicate ideas to audiences and therefore some other giant company will have to acquire Twitter unless they can fix their business model themselves. Twitter has recently had a massive impact on the American presidential election which proves how powerful this platform is for media related issues.
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