Writing when you have a word limit to stick to is stimulating and challenging at the same time. The leveraging character limit for your own good is simply at another level. And that’s the idea behind Twitter. This social media platform has revolutionized concise messaging through the concept of tweets.
News, views, reviews, and whatnot are exchanged on Twitter. Sports, politics, movie industry, social workers, businessmen, organizations, the ordinary public…nearly every class and kind of person could be found on Twitter. It’s hard to follow that favourite celeb of yours had it not been for Twitter. Twitter now X is social media platform founded by Jack Dorsey, Biz Stone, Evan Williams, and Noah Glass
Jack Dorsey is an American entrepreneur and the co-founder and former CEO of Twitter. He is also the founder of Block, Inc. (Formerly Square). The net worth of Jack Dorsey is $4.1 billion, as of February 2025. Dorsey remained the CEO of Twitter till November 29, 2021, when he stepped down from the coveted position and was replaced by Parag Agrawal. Dorsey also resigned from Twitter’s Board of Directors on May 25th, 2022.
This StartupTalky article explores Jack Dorsey’s success story, including his early life, history, childhood, personal life, education, awards, net worth, and more.
Jack Dorsey Biography
Name
Jack Dorsey
Born
November 19, 1976
Place
St. Louis, Missouri, United States
Nationality
American
Parents
Marcia Dorsey, Tim Dorsey
Education
Bishop DuBourg High School, Missouri University of Science and Technology, New York University
Known for
Co-Founder and Ex-CEO of Twitter, Co-Founder of Block, Inc.
Jack Patrick Dorsey was born on November 19, 1976, in the city of St. Louis, Missouri, United States. Jack grew up in a middle-class Catholic family. He grew to be one of the most famous entrepreneurs alongside his brothers, Andrew and Dannie Dorsey. Tim Dorsey & Marcia Smith Dorsey are the parents of Jack Dorsey.
When Jack Dorsey was young, he was an observant kid who had a speech impediment. As a result, he normally stayed at home and developed a fascination for simplicity. An introvert in childhood, Jack overcame his shyness by participating in various oratory competitions. After many failed attempts, he overcame his fear of speaking in front of the public.
As a teenager, Dorsey loved spending time with computers. An early version of the IBM computer fascinated him and he spent hours, if not days, analyzing and understanding it. His ambition was to draw a live map of New York City, comprising several dots or legends that represented vehicles and landmarks.
Jack Dorsey – Education
Jack Dorsey attended Bishop DuBourg High School and after leaving high school, he enrolled in the Missouri University of Science and Technology.
Missouri University of Science and Technology
He left after two years to pursue his dream of living in New York and joined New York University only to drop out in the final year to work on his idea of Twitter. His goal of creating the live map took over his academics but fate has its quirks.
During the summer of 1991, Jack Dorsey joined Mira Digital Publishing Company. A young Dorsey interrupted his boss in the middle of a project. Although his boss promised to talk to him within a minute, Jack didn’t get to speak to him. After the meeting, his boss saw him standing at the same spot. Jack had a thing for patience. He went on to lead a team of programmers in their thirties.
Jack Dorsey Young
Jack Dorsey – The Dot-Com Setback
Jack Dorsey got into the Dispatch Management Services Corp by hacking their security system and emailing the company’s manager, Greg Kidd, on how to patch the hack. He worked for the company for several years and worked for Greg Kidd’s project called dNet.com. However, the dot-com bubble destroyed the efforts that were put in for dNet.com, and Dorsey was left unemployed. His condition was so bad that he had to go for massage therapy courses.
Dorsey was then saved by Odeo Company, which specialized in internet startups. The company was headed by Evan Williams and faced a financial crisis and ideological difficulties amongst the employees.
Jack Dorsey – Launch of Twitter
Jack Dorsey created Twitter because he wanted to combine the SMS concept with an algorithm so that the would-be read only by the sender’s network. This was the only core logic behind Twitter. After two weeks, Dorsey and his friend came up with the iconic blue bird logo for Twitter.
Twitter Logo
The first tweet was done by Dorsey which read – “just setting up my twttr” (yes, twttr, and not Twitter). Twitter went public in the year 2006.
In the start, many people labelled the Twitter concept as “useless”. Even Williams was sceptical about its potential. It was a hard time since companies like Odeo, which supported young programmers to build their own companies, were not available to help Dorsey with his Twitter venture.
Naturally, there was a concern for funds to keep Twitter away from shuttering. However, the Twitter team soon found a scanned image of half a million dollars in its checkbox. A guy named Fred Wilson offered this cheque and was willing to work for Twitter as a strategic consultant. His plans assisted Twitter in building a global reach.
With time, Twitter cemented its place and the rapid developments in smartphone tech only bolstered Twitter’s growth. Twitter has around 2.2 billion visits per month at present. During the Southwest Film Festival in 2007, employees used multiple screens to show the facility of the real-time messages offered by Twitter. This helped increase the daily tweets count from twenty to sixty thousand.
In May 2008, the billionth tweet was posted. In the same year, the market capitalization of Twitter reached a whopping $1.5 billion. The market cap of Twitter was last recorded at $26.10 Billion in February 2022.
In October 2009, Twitter gained its first revenue of around $25 million. Google Inc. and Microsoft had a role to play in this deal. The deal was centred on the condition that Twitter messages would become visible to Google and Bing search engines. Later, Dorsey refused to work with Facebook.
In 2013, there was a 182% increase in Twitter’s shares. This was due to an increase in the stock’s value in IPO (the stock price was $26, but increased to more than $46 on the first day of trading). At present, 85% of the revenues come from online advertisements.
Jack Dorsey, being the brain behind one of the most popular social media platforms of our times makes him an iconic social media entrepreneur. Jack Dorsey is currently worth around $4.1 billion, as of February 2025 reports.
Jack Dorsey Net worth
Jack Dorsey – Exit From Twitter
Jack Dorsey served as the CEO of Twitter since he founded Twitter in 2006. However, he had to resign due to the alleged problems in the functioning of the platform and in the management of the company for which he was pushed out of his role by the board in 2008.
The genius, however, witnessed a Steve Jobs– style return to his home company as a CEO in 2015 and had finally opted to resign on November 29, 2021, when he left the office to give way to Parag Agrawal, who replaced him immediately the very same day.
Speaking about Agrawal, Dorsey has mentioned that firstly, he wants to stop Twitter to be an entity that is founder-led. Furthermore, he mentioned that his trust in him “is bone-deep”.
Twitter co-founder Jack Dorsey said that he won’t be hanging there on the Board of Twitter for long. This is vital because he thinks that it is “important to give Parag the space he needs to lead”. Dorsey took to his homegrown platform to post his resignation letter, which reads:
Jack Patrick Dorsey quit the Twitter Board of Directors on May 25, 2021. Though he stepped down from being the Twitter CEO on November 29, 2021, he still remained aligned with the social media giant’s Board of Directors, however, he had already planned to leave the Board since he stepped down from the CEO position. Twitter is witnessing a visible change in its administration and is going through a major transformation since the days when Jack Dorsey stepped down. Now, Parag Agrawal is the CEO of Twitter, while Elon Musk is on the verge of acquiring the popular social media platform, which would bring in more change to follow.
Dorsey is now working on the development of Block, Inc. (Formerly Square). While Square still exists as one of the company’s main products, the company changed its name to Block on December 10, 2021.
Block Inc. is headquartered in San Francisco, California, USA, and is financial services and digital payments company founded by Jack Dorsey and Jim McKelvey in 2009. The company Block derived its former name “Square” from its square-shaped card readers. Block is currently a public company that was registered on the New York Stock Exchange in November 2015.
Square, which is a payments platform that helps small and medium-sized businesses accept credit card payments and use tablet computers as payment registers for a point of sale system, is one of the core businesses of Block. Some other products/businesses of Block include:
Cash App – A mobile app that allows money transfers between users and businesses.
Afterpay – A buy-now-pay-later service of Block.
Weebly – Weebly is a website hosting service.
Tidal – Tidal offers audio and music videos to the users as a subscription-based music podcast and video streaming service.
In the year 2012, Starbucks invested $25 million in Square, Inc. The CEO of Starbucks, Howard Schultz joined Square’s board and became one of the most important personalities on the board.
Jack Dorsey – Awards and Achievements
Jack Dorsey’s Major Achievements:
Co-founded Twitter and led its expansion into a global social media platform.
Founded Square (now Block), transforming mobile and digital payments.
Philanthropic contributions, supporting education, COVID-19 relief, and universal basic income.
Jack Dorsey’s Awards & Recognitions:
MIT Technology Review (2008): Named one of the Top 35 Innovators Under 35.
The Wall Street Journal (2012): Awarded Innovator of the Year in technology.
Crunchies Awards (2012): Honored as Founder of the Year at the 5th Annual Crunchies.
Jack Dorsey is an American entrepreneur best known for co-founding Twitter and founding Square (now Block). He played a key role in shaping social media and digital payments.
Where did Jack Patrick Dorsey go to high school?
Jack Dorsey went to Bishop DuBourg High School.
What is Jack Dorsey education?
Jack Dorsey attended Missouri University of Science and Technology and New York University, but he dropped out in his final year to work on Twitter.
Where was Jack Dorsey born?
Jack Patrick Dorsey was born on November 19, 1976, in the city of St. Louis, Missouri, United States.
When did Jack Dorsey start Twitter?
Jack Dorsey started Twitter in 2006 and his first tweet was “just setting up my twttr”.
How did Jack Dorsey start Twitter?
When Odeo went out of business, Jack Dorsey started work on his idea where he wanted to combine the SMS concept with an algorithm so that the would-be read-only by the sender’s network.
Did Jack Dorsey graduate college?
No, Jack Dorsey dropped out first from the Missouri University of Science and Technology and after two years he transferred to the New York University but dropped out from there too to work on Twitter.
Did Jack Dorsey leave Twitter Board?
Yes, Jack Dorsey resigned from Twitter’s Board of Directors on May 25, 2022.
When did Jack Dorsey leave Twitter?
Jack Dorsey, the founder of Twitter, stepped down from the Twitter CEO position On November 29, 2021, which brought Parag Agrawal as the new Twitter CEO. Furthermore, on May 25, 2022, Jack Dorsey left the Twitter Board of Directors, which was when Jack Dorsey left Twitter altogether.
Who are Jack Dorsey siblings?
Jack Patrick Dorsey has two brothers Daniel and Andrew.
Where did Jack Dorsey go to high school?
Jack Dorsey went to Bishop DuBourg High School.
How did Jack Dorsey start Twitter?
Jack Dorsey started Twitter in 2006 with Noah Glass, Biz Stone, and Evan Williams. It began as an idea for a simple status-sharing platform. The first tweet was posted by Dorsey on March 21, 2006. Twitter quickly grew into a major social media platform.
What did Jack Dorsey invent?
Jack Dorsey co-invented Twitter (2006), a social media platform for short messages, and founded Square (now Block) (2009), a mobile payments company.
The saying “Winners never quit, and quitters never win” is true, but it seems ironic in the case of entrepreneurs who have quit their academics to pursue their goals instead. Guess what, though? They have accomplished much more than getting good grades from school or university.
People continue to question the decisions that were made by dropouts, asking, “Will they thrive as successful contributors to society?” But trust me when I say that going from being a dropout student with nothing in their pocket to becoming one of the most successful millionaire entrepreneurs in the world has greatly increased respect for determination and commitment to one’s aims.
Dropping out of school or college is considered one of the biggest mistakes in one’s life. However, there are certain people who have proved this notion wrong by turning this mistake into huge achievements. The following is a list of the biggest entrepreneurs in the world, who dropped out of their education in the middle.
Bill Gates
Name
Bill Gates
Net Worth
$114 Billion (2022)
Source
Microsoft Corporation
Dropout From
Harvard University
Bill Gates
Bill Gates is known to be the inventor of the college-dropout billionaire trope in 1975 when he left Harvard to start his career in establishing Microsoft. At the age of 13, he wrote his first software program to get admission to a private Lakeside school, which revealed his affinity for programming.
Whilst at Lakeside school, Gates earned the title of National Merit Scholar, in which he scored 1590 out of 1600 on the SAT. To support his father’s dream of making him becoming a lawyer, he enrolled at Harvard as a pre-law student in 1973, and aced mathematics and computer science courses.
After dropping out of Harvard, in 1975 Gates founded ‘Microsoft’ with his friend Paul, and produced the first-of-its-kind programming language BASIC for the MITS Altair 8800 ‘Microcomputer,’ an early personal computer. He had chosen the path, which he is good at, not the path his parents wanted him to choose.
Mark Zuckerberg
Name
Mark Zuckerberg
Net Worth
$70 Billion (2022)
Source
Meta (formerly Facebook)
Dropout From
Harvard University
Mark Zuckerberg
One of the famous media magnates is the CEO of Meta Platforms- Mark Zuckerberg. He attended his schooling at Ardsley High school before transferring to Phillips Exeter Academy. He started using computer and software programming in middle school, where he built a program that connected wireless communication between his and his father’s dental office.
In 2002, Mark got into Harvard to study Psychology and Computer Science and was already known as a ‘programming prodigy’. At that time, Mark came up with a new code for his new website- Facebook, however, faced a lot of problems in establishing it, so he decided to quit Harvard in 2005 to focus on building his dream, Facebook.
Henry Ford
Name
Henry Ford
Net Worth
$190 billion, (1947, adjusted for inflation)
Source
Ford Motor Company
Dropout From
High School
Henry Ford
The automobile ruler created a revolutionary movement in transportation and the automobile industry. Ford completed his eighth grade at a one-room school and instead of attending sophomore, he enrolled in a bookkeeping course at a commercial school.
Contradictory, Ford was much more interested in building something big than sitting at a desk & bookkeeping. When he was 12 years old, that was the first time he found a purpose in his life when he witnessed the operation of a Nichols and Shepard road engine from a watch gifted by his father. In 1882 Ford returned to his family farm after working as an apprentice machinist in Detroit.
While he was working on the family farm, he became adept at operating the Westinghouse portable steam engine, whereby he completed his first gasoline car powered by a two-cylinder, four-horsepower engine and eventually built three cars in his home workshops, which was a stepping stone to the development of the renowned brand ‘Ford’.
Steve Jobs, the innovation king, was also once a problematic child during his school times, where he played a lot of pranks on teachers and never showed a slight interest in studies.
He even skipped 5th Grade and transferred straight into 6th grade at Crittenden Middle school, where he became a victim of the bully. In fact, his family moved to Los Altos and joined Homestead High school for a better life, which was surrounded by an environment of engineering families.
In 1971, Steve Jobs decided to join the electronics club with his best friend Wozniak, who got into the University of California, Berkeley. At that time, Wozniak designed a low-cost digital ‘blue box’ to manipulate the telephone network, by allowing free long-distance calls.
In 1971, Steve Jobs dropped out of Reed College after the very first semester, because he didn’t want to waste his parent’s money on an education that seemed meaningless to him and worked as a technician at Atari, Inc. in 1972. In 1976, Jobs, and fellow college dropout Steve Wozniak, built the Apple I in his parent’s garage.
Larry Ellison
Name
Larry Ellison
Net Worth
$91 Billion (2022)
Source
Oracle Corporation
Dropout From
University of Chicago
Larry Ellison
Larry Ellison was once a dropout student, but now he was listed as one of the wealthiest people on the planet by Bloomberg Billionaires Index in July 2022. Larry Ellison attended South Shore High school and later enrolled as a pre-med student at the University of Illinois in Urbana-Champaign.
At the University, he was rewarded and named ‘Science student of the year. Unexpectedly, he hadn’t appeared for his final exams as his adoptive mother passed away. In 1966, he attended the University of Chicago for one term, where he learned computer design and technology, and later dropped out of it.
Larry Page, the co-founder of Google, found himself attracted to computers when he was 6 years old and even became the first kid in the rudimentary school to turn in an assignment from a word processor.
At the age of 12, he wanted to start a company by inventing new things and eventually developed an interest in technology and business. Larry Page was a radiant student in schooling as well as an undergrad. He did his schooling at Montessori Radmoor and East Lansing High School.
Page received a Bachelor of Science from the University of Michigan and a Master of Science from Stanford both in the field of computer science. After joining his: Ph.D. and he started his research in Computer Science at Stanford University and pursued his full-time interest in building the World Wide Web. However, in 1999 Larry couldn’t complete his Ph.D. degree and dropped out of college to focus more on his main aim.
Jan Koum
Name
Jan Koum
Net Worth
$13.3 Billion (2022)
Source
WhatsApp
Dropout From
San Jose University
Jan Koum
The co-founder of Whatsapp Jan Koum enrolled at San Jose State University because he was interested to learn to program. At the same time, he worked at Ernst & Young as a security tester. In 1997, He left his studies mid-way, because he was hired by Yahoo as an infrastructure engineer.
Evan Williams
Name
Evan Williams
Net Worth
$1.8 Billion (2022)
Source
Twitter
Dropout From
University of Nebraska
Evan Williams
In Clarks, Nebraska, Evan Williams was raised on family property. Before quitting, he spent three semesters enrolled at the University of Nebraska at Lincoln.
Williams worked as a contractor writing software for Hewlett-Packard and Intel and then also secured a position at Google. Later, he left his position at Google to start his entrepreneurial journey of establishing Twitter.
Jack Dorsey
Name
Jack Dorsey
Net Worth
$4.2 Billion (2022)
Source
Twitter
Dropout From
New York University
Jack Dorsey
A 1999 New York University dropout is the co-founder of Twitter and Square, two of the most talked-about firms in recent memory. Jack founded Twitter along with Ev Williams, Biz Stone, and Noah Glass after briefly working as a masseur and a fashion designer. At this time, Dorsey is valued around $5.6 billion.
The above graph shows the percentage of Forbes Billionaires by their educational institute type. The graph is made as per the data shared by entrepreneur.com and the study conducted by Wai & Rindermann.
Amancio Ortega
Name
Amancio Ortega
Net Worth
$61.6 Billion (2022)
Source
Inditex
Dropout From
School
Amancio Ortega
Amancio Ortega, dropped out of school at the age of 14, because his father was a railway worker and couldn’t afford much to pay. So, Amancio Ortega joined a local shirtmaker named ‘Gala’, which actually taught him how to make clothes by hand and inspired him to build one of the largest clothing retailer companies, Inditex, known for its chain of Zara and Bershka.
Orji Uzor Kalu was 19 years old when he was dismissed from the Nigerian university after being found instigating a series of student riots. In order to start trading goods like rice, sugar, and palm oil, he requested $35 from his mother.
By diversifying his investments, he became a millionaire by the age of 20. He was ranked by Forbes as the 49th richest person in Africa in 2015. He originally established SLOK Holding, a West African company with profit shareholding in shipping, banking, manufacturing, etc.
Michael Dell
Name
Michael Dell
Net Worth
$56.1 Billion (2022)
Source
Dell Technologies
Dropout From
University of Texas
Michael Dell
In 1983, Michael Dell was a student at the University of Texas, although he occupied much of his energy in his college dorm room updating and hawking devices. Dell founded PCs Ltd. at the age of 19, which eventually grew into Dell Computer Corporation in 1987.
He then obtained a license from the State of Texas to submit bids for big contracts after starting to sell upgrade modules for personal computers from his hostel. At the age of 27, Michael Dell was the youngest CEO on the Fortune 500 list. He currently has a net worth of almost $20 billion.
John Mackey
Name
John Mackey
Net Worth
$85 Million (2022)
Source
Whole Foods Market
Dropout From
Texas University
John Mackey
John Mackey studied Philosophy and Theology at Texas University, Austin in 1978. Renee Lawson Hardy and he first met when he enrolled in a vegetarian co-op at the university.
The couple dropped out of school and founded SaferWay, the first vegetarian supermarket in Austin. It ultimately paved the way for Whole Foods, the 30th leading retailer in the United States measured by revenues in 2014.
Azim Premji is another biggest entrepreneurs on the list of dropout entrepreneurs. is the son of a very famous businessman, who is also known as the Rice king of Burma, Mohamed Hashem Premji. Azim had to drop out of his education at Stanford because he had to take care of his family’s oil business after his father’s sudden demise.
Subsequently, Azim Premji became solely responsible to look after his father’s business in India. He completed his studies to get a Bachelor of science in electronic engineering degree from Stanford University after 30 years.
Kunal Shah
Name
Kunal Shah
Source
CRED
Net Worth
$809 Million (2022)
Dropout From
Narsee Monjee Institute of Management Studies
Kunal Shah
Kunal Shah graduated from Wilson College with a Bachelor of Arts in Philosophy. He then enrolled at the Narsee Monjee Institute of Management Studies for an MBA degree, which he ultimately left. His initial business was PaisaBack, which provided kickbacks from merchants. Among many of the top college dropout Indian entrepreneurs, Kunal Shah is one of the most well-known names.
He is a founding member of FreeCharge, a reputable internet recharge service. 2012 saw the launch of the business, which Snapdeal soon bought. With its first three recharges and matching-value incentives, FreeCharge completely changed the way that internet recharges work. He is currently known best for being the founder of one of India’s unicorn startups CRED.
Ritesh Agarwal
Name
Ritesh Agarwal
Net Worth
$1.1 Billion (2020)
Source
OYO Rooms
Dropout From
Indian School of Business & Finance, New Delhi
Ritesh Agarwal
One of the youngest Indian Billionaires, Ritesh Agarwal, the founder of OYO Rooms. He was from a middle-class family. He completed his higher schooling at St. John’s Senior Secondary School and moved to New Delhi for college in 2011.
But, shortly, he quit as his project idea of Oravel stays Pvt Ltd was selected by the Thiel Fellowship program in 2013, which granted 100,000 USD, with which he launched OYO rooms.
These are some of the most successful entrepreneurs who have found greatness despite not having the appropriate education. They serve as the best illustration that what you study doesn’t define you. It is your hard work and determination and passion that speaks for you.
FAQs
Who is the most successful dropout?
Bill Gates is the most successful dropout in terms of net worth. He possesses a net worth of $110.5 billion as of July 2022.
How many billionaires have no college degree?
As per the billionaire census by Wealth X (2015), about 3 out of the 10 billionaires have no proper college degree. Some of the most popular names who became successful without a proper college degree include Bill Gates, Mark Zuckerberg, Steve Jobs, Amancio Ortega, and more.
The world I see around and in fact, the world, which we all see around is mostly glued to the screens. At a point in time, you may develop some sense that this world is covered with more screens than living organisms. There is something that is too addicting about these screens. In fact, we all know what that addicting element is! Most probably, it is social media.
We live in a society, where we don’t really live in a society, in fact, we live on social media, jumping from one medium to the other. We might be posting some fun photos on Instagram for a second, choosing captions for the posts on Facebook, and then typing out feels on Twitter. Covered with an immense responsibility of maintaining every social media with a good social life has gotten all over us.
In a world where everyone is on social media, it is really important this social media happens to be privacy-focused and acts as a good and moral form of media. It should be more democratic and should have all the fundamentals of democracy like the right to freedom of speech. Furthermore, it should also be open for all features with strict guidelines about hate and misconduct which we all witness online. The past five years or maybe ten years have been consumed in this discussion of maintaining social media.
There are influential people involved in this decision and the social mediums we use every day are really getting better every day. This article is about one such social media, and that is Twitter. Twitter is one of the most famous platforms in the world. We will cover how it is changing, the recent news about Elon Musk’s decision of buying out all of Twitter’s stakes, the probability of him acquiring the company as a whole, and how the termination of the acquisition deal has dragged the two parties to the court. There were a lot of updates involving Twitter and the decision of Elon Musk’s Twitter acquisition. So, let us see the events one frame at a time and then ascertain how the company is doing at present and where the company is headed. First, let us see who the protagonist of this news is, and why he is such a sensation!
You must be living under a rock if you don’t know who Elon Musk is! He is probably the most famous and most sensational entrepreneur and businessman ever known to humanity (at least in the twenty-first century). He is smart, he has all the skills to create something in the field of science and technology, and if you look at his Twitter account, he is hilarious.
He is the founder of SpaceX(a space company that builds and launches rockets), The Boring Company (a tunnel-making company for better and futuristic transportation), and the all-time great Tesla(a smart car manufacturer). This man has literally made everything that most technologists in the world have mentioned to be impossible in the near future.
Maintaining such big companies and a lot more other companies, Elon Musk comes on the list of richest people in the world, and with a net worth of $220+ bn in June 2022, he is the richest among all of them.
Besides, most investors and people in the world love him and trust him. This is Elon Musk, and of course, not to mention that with great powers, comes great responsibilities. He is such an influential person that once he skyrocketed the price of Bitcoin, just by a tweet. He is the mind behind the joke turned crypto, Dogecoin, and behind the “to the moon” phrased meme all over the internet.
The best way to find out about Elon is probably not his Wikipedia, it is his Twitter account. He is the most transparent and his usual self on Twitter, I’m joking. His account is filled with memes, jokes, more burning jokes, facts, and sometimes random wisdom. Not to mention, Twitter seems to be his favourite social media among all the social media in the world, perhaps that is why Musk initially decided to buy it, but he eventually backed out from the same.
The founder of Tesla spends a disproportionate amount of time on this medium. This calls for some recent news, the news about buying Twitter. However, before disclosing the news of Musk not buying out Twitter and getting sued instead, you need to understand the back story about why he decided to do the same, and how he did go near it but closed it unfinished.
Reaction to Elon Musk Acquiring a 9.13% Stake in Twitter
The news that came off on 4th April 2022, shook Twitter. Not just Twitter but every shareholder of the company. Elon Musk bought 9.13% of the stakes of the company. The result of this action was that it made him the biggest shareholder of Twitter among others. This move of buying the biggest stake in the company gave him more power than any other shareholder in the company.
As the news broke out of Elon taking a 9.13% share of the company in his ownership, there were many repercussions. As a man who is a very influential personality in the world, this move was unexpected and uncertain at the same time. In fact, there are multiple instances where Elon proved that he is not predictable at all. He does whatever he feels like doing and with the same stance, he speaks whatever on Twitter he wants to.
As Elon bought 9.13% of the social media giant, there were reactions all over. It is to be noted that Elon’s share in the company then stood at about four times that of Dorsey. Jack Dorsey was the co-founder and was one of the key people responsible for the launch of the company, he eventually stepped down from the CEO position followed by his resignation from the Twitter Board of Directors.Elon surpassed Jack with this investment and had more ownership than him.
Another event that occurred after the stakeholding was the jump in the share price of the company. It is to be noted here that the social media giant is a listed company, as it is an enormous firm that requires a listing of its own. As a person who can change the price of bitcoin with just a tweet, we can only guess that buying 9.13% shares in a company as large as Twitter, would imply similar reactions for sure. The shares of Twitter jumped 27% after the news broke out on the 4th of April, 2022. This has also been noted as the single biggest jump for the company’s shares till then.
Elon Musk didn’t write to SEC when his stakes in Twitter went beyond 5%, which was a violation of US security laws. Therefore, when he disclosed his acquisition of over 9% of Twitter shares via the 13G filing of SEC on April 4, 2022, the shares of the social media platform saw the largest intraday surge in their prices since its 2013 IPO.
With a 9.7% stake in Twitter, Elon was bestowed with powers that can change and alter the decisions of the whole company and thus, the market image of the social media giant. In fact, in some other news, it was also mentioned that Elon was all set to join the board of the company, which would have helped him get the powers of dictating the company. This is one of the prominent privileges that the topmost shareholder of a company get. However, Elon initially delayed the same until it was effective from April 9th.
All of the above repercussions or reactions were just one part of the story and they were the most noticeable changes in the company and the outside. However, there were more reactions and repercussions that were still not revealed to the world then.
Before Elon starts his own sways as the owner of the company once the pending Twitter deal is approved, we must see what kind of changes we can expect from him. For this information, we will have to look at his Twitter account. His Twitter account has always been full of useful nuggets of information that can guide us in the direction that this person will be taking on Twitter. Let us have a look at his most recent tweets among the news of him buying the most shares of Twitter.
Elon Musk Replaced as the largest shareholder of Twitter
The story so far has been easy to follow but now there occurred a twist that turned everything. This was another update to the story, the ‘Elon and the hostile takeover of Twitter’ story. Now, before we tell you the story, let us inform you that there are five major shareholders in Twitter. Those five names, according to their shareholdings are Elon Musk, The Vanguard Group, Morgan Stanley, BlackRock and State Street. All these five Investors/Firms make up for all the ownership of Twitter. Collectively, these top five Twitter shareholders own more than 37% of Twitter.
Now that Elon was trying to buy the whole company with some really rash conditions like reconsidering his already biggest shareholding in the company, other investors thought to come up on stage. The Vanguard Group, which is the biggest shareholder, next to Elon decided to come into the picture. Vanguard increased its share in Twitter, which led Elon to bump off his perch. The Vanguard Group, which is an asset management firm, grew its stakes in the social media giant, Twitter to 10.3% of the company. The group then owned 82.4 million shares of Twitter, which made them the highest shareholder in the company, offsetting Elon’s shareholding of 9.13% in the company.
The Vanguard Group overtook Elon Musk as the largest shareholder of Twitter. The move came after Elon tried to take the company into his own hands, rather forcefully. Experts started referring to this as a hostile takeover of Twitter. Soon after Elon’s action, the “Twitter Takeover” hashtag also started to go viral with thousands of Twitter users replying to it and commenting on their views. Vanguard’s move of buying and owning the largest stake in the company came to offset what Elon is up to. According to Elon, who seemed to be a hardcore advocate of free speech, Twitter is not doing enough to promote free speech. Musk wanted to make the company a private company, from a publicly listed company and thought that he can unlock its full potential. One thing is sure, Twitter headquarters had been on fire at that moment.
Elon Musk Tweet’s Analysis
Most celebrities do not like controversies. Let me rephrase it, most celebrities try and avoid any sort of controversies whatsoever in the world. Most people in the world love controversies and stories with great spice in them. As opposed to the popular opinion of being controversial, most celebrities in the world try to avoid arguable moments, at least in public.
Elon belongs to that category of influencers or celebrities who absolutely love controversies. Musk is someone who is super transparent and speaks his mind, even in public. He does not really care about what the repercussions will be and how people will react to his ideas. He just does.
His Twitter account reflects what we just mentioned in the last paragraph. He is his honest self on this social media and just tweets without a second thought. That is one reason for the immense following that he has gotten on Twitter.
Soon after the news broke of Elon Musk buying a 9.13% stake in Twitter, he was, as usual, active on his Twitter account. It was the 4th of April when this happened and he has tweeted a lot of things since then. Let us see what he has been up to, by decoding his tweets and polls, and pictures. Here it goes:
One of the first things that he posted on Twitter after becoming the major stakeholder in the company, was a meme. He literally posted a meme which is quite a usual post on his Twitter account and fans reacted the same.
Fans blew up the post by hitting the retweet button a million times. The meme showcased Elon Musk smoking weed. Yes, it gets as weird as we speak more about it. Let us link it up here, the tweeted photograph so that you can relate to what we are saying.
Elon Musk tweet after becoming the major shareholder of Twitter
The photograph is of Elon in a past podcast with the podcaster Joe Rogan. Now it is here to be mentioned that Joe Rogan is a popular podcaster and he has an audience that is huge. As mentioned earlier, Elon is his usual self on Twitter, as the world likes to believe and as seen everywhere on the internet. This event was controversial, and it even affected Tesla’s share.
Going back to the tweet, he shared this image of him smoking weed. The image also entailed a caption on the top of the image that read “Twitter’s next board meeting is gonna be lit”. The post is, NOT GONNA LIE is hilarious. It shows that this person is super chill and raises questions on the future of Twitter as a social media which is becoming more and more transparent.
The next tweet of Elon Musk, which we are going to mention here, was also a hit and had rave responses from people all over the world. This time, Elon commented on the famous issue that Twitter has had for a long time now. The edit button. His tweet was a poll in which he asked his 81 million followers “Do you want an edit button ?” He also cleverly added two typos in his tweet poll, misspelling ‘Yes’ as ‘yse’ and ‘No’ to ‘on’, which was not a random mistake but a thoughtful mistake. This marks the old debate of Twitter having an edit post button like other social mediums.
Elon Musk Edit Button Tweet
Parag Agrawal retweeted Elon’s tweet poll and wrote a caption that he wants participants of the poll to choose carefully as this will have implications in the future. Twitter officially mentioned later that they are working on an edit button. Elon’s tweets were famous back then and now, he is the biggest shareholder in the company, which means that he has to decide the powers in his hands.
The consequences of this poll will be important. Please vote carefully. https://t.co/UDJIvznALB
The next tweet that we want to talk about is another recent tweet after he became the largest stakeholder in the company. This was actually a retweet with a quote that he wrote. He retweeted some tweets that showcased ‘the topmost followed accounts on Twitter.
The original tweet involved mentions of celebrities Obama, Justin Bieber, Taylor Swift, and other celebrities on Twitter. Elon retweeted it by saying, “most of these top accounts tweet rarely and post very little content”. He also added a question “is Twitter dying”. It mentioned the low popularity of Twitter and super users using this social medium to post less content, as compared with other social mediums like Instagram. This raises questions about the popularity of the social media giant.
Most of these “top” accounts tweet rarely and post very little content.
He also added some more replies to his original quoted tweet by mentioning some of the top accounts. He said that top accounts like that of Justin Bieber and Taylor Swift did very little or no posts this last year. This sprung many reactions out from everyone who interacted with the tweet. Thus, taking a toll on Twitter and its largest accounts in terms of follower counts.
In another tweet, Elon Musk wrote, ”Convert Twitter SF HQ to a homeless shelter since no one shows up anyway,”. The tweet was a poll with many participants saying yes to the idea. One of the participants in the poll was none other than the richest person on earth, Jeff Bezos. He agreed to that tweet replying that he and his team at Amazon did a similar thing. Jeff and his team did turn one portion of their corporate office at someplace into a homeless shelter.
The tweet about converting Twitter headquarters into a homeless shelter came after Elon observed that the employees weren’t coming to the office. So, this poll was an attempt to take a toll on the employees there. However, we feel that folks at Twitter are doing a pretty solid job at their work.
After analysing a lot of tweets from the CEO of Tesla, it’s time to look at the platform and the most famous issue with it. The edit button has been the centre of outrage on this social media for a long time now. Here we will see what it is and how it will be in the future.
Twitter Edit Button Foray
Twitter is a social media that revolves mostly around typed texts. Posts are mostly typed texts that are also limited to some, One hundred and forty characters. This character limit was much shorter in the past and was increased following the huge demand from Twitter users. This is an example where Twitter shows that it takes care of its user demands.
However, there is one more thing that pinches Twitter users. That thing is the absence of an edit button. Twitter has had no edit button since its inception and people are super pissed off from this thing. They have been asking for it for a long time now and Elon entering the scene has been a ray of hope for these people.
In the past, Twitter said that having no edit button inspires people to type responsibly and sensibly. Twitter has also mentioned in a quirky way that “Your typos make it original”. Which is a good escape from the situation. Even before this edit feature was a thing, the issue was fewer characters to tweet. Twitter used to dismiss it by saying that fewer characters for tweeting inspire creativity.
Turns out that the edit button issue is a big issue for all Twitter users and this has to be made a feature on the website and the app. As Elon stepped into the scene with the biggest shareholding in the company, there was hope in the eyes of Twitter users.
In a very recent tweet, Twitter mentioned that “We are working on an edit button”. This tweet, however, was on the first of April, which is known as April fools’ day. If this is a prank or it is a real thing, we can’t say it in sure terms. Only time will tell if Twitter will really be adding an edit button or if it was a massive prank. It is not funny however anymore.
This was big news for the world, when everyone was expecting Elon to be joining the board at Twitter, this news came out. Let us see what the article that Parag posted said and try to see what happened here. Parag sent a snapshot of the post that he shared with his team on Twitter. The first line of the article read “Elon Musk has decided not to join our board” and then came the explanations.
He said that the Twitter board and Parag himself discussed many things with Elon Musk, that too face-to-face, with no hierarchy in between. The board of directors at Twitter was super excited about Elon joining the board but they want to be sure about the risks involved in the action. The article mentioned that the company expected Elon to act as a real board member, which simply means that he has to work in the best interest of the company and all the shareholders.
With all these general terms and conditions that every company would expect from a board member, the Twitter board offered Elon a seat happily. This was mentioned in the article. Twitter even announced the same on Tuesday on an official notice that Elon will be appointed as a board member. With some little background check.
All the work was nearly done but the next morning, Elon himself said that he will no longer be joining the Twitter board. Parag mentioned that he believes that this decision is for the best and they have always looked out for shareholders’ input. For the time being, Elon Musk is the largest shareholder, and the owner of the company, and will remain that way, and the company will always be open to his input. This means that the Tesla CEO will not become a part of the board of Twitter but will remain the largest shareholder in the company with all the rights of a shareholder.
Parag also mentioned that the future of Twitter is full of distractions and all the people working at the company will have to prioritise goals and achievements.
All these events on Twitter really define Elon as an unpredictable person who just can’t be predicted. Not to mention that this company, Twitter is his favourite social media space and now he is its biggest shareholder. This is expected that Elon will be good to the board and will not create any sort of ruckus that is not needed there. But again, Elon is unpredictable as always, and saying no to the opportunity of staying on the board of directors, will help Twitter stay focussed on what they are trying to build.
As the news broke out, there was an immediate effect that could be seen with naked eyes. Twitter shares fell down, as the stock exchanges are just a reflection of investors’ feelings. It is obvious that investors were hurt by this decision and thus, they started pulling money off their stock and portfolio from Twitter. This was the effect of news and Elon, as mentioned earlier is his usual self and does not really care about controversies. He can just punch a stock with a tweet.
Has Elon Musk Bought Out Twitter?
Yes, you’ve heard it partly right! Elon Musk has not actually bought out Twitter by buying 100% stakes in the firm on April 26, 2022, but Musk is enthusiastic and the deal is pending final approval. The “is enthusiastic” has now turned to “was enthusiastic”. Yes, Elon Musk lacks any more zeal to continue with the Twitter buyout and has reportedly abandoned the idea, as per July 9, 2022 reports. In response to Musk’s decision, Twitter has responded that it will take legal action against the Tesla CEO and will force the deal to go through.
As we mentioned, this article has to be updated to the latest version of the story. In our research, we found another update and we got to know that Elon wanted to buy the whole company. Not that this was not evident from his actions but this was big news indeed.
Elon Musk asked the board to sell the company to him. As a Twitter admirer and then the biggest shareholder in the company, he said that this company has a lot of potentials. A huge potential that was left untapped. He also mentioned that he thought he was the key person that could unlock that potential.
Tesla’s CEO offered the company an offer that seemed too good to be true. He said that he will buy every share for 54.20 dollars each, which will value the company at a whopping $43 billion. As the news broke out that the world’s richest person is trying to buy the social media giant, the stock markets reacted in a positive manner. Twitter shares jumped up 5.3% and stood at 48.2 dollars.
Twitter said that its board would review the proposal and any response would be in the best interests of “all Twitter stockholders.”
It all started on 4th April 2022, when Musk agreed to a deal that would appoint him to the Board of Directors of Twitter on April 4, 2022, while prohibiting him from acquiring more than 14.9% of the company. However, Elon decided to not join the board before his appointment became effective on the 9th of April.
Elon Musk finally offered $44 bn on April 13, 2022, to buy out 100% shares in Twitter at $54.20 per share. This was fueled by his desire to take the company private. Musk reportedly said that Twitter will “neither thrive nor serve [its free speech] societal imperative in its current form”, adding that it “needs to be transformed as a private company.” Though Twitter’s board initially adopted a shareholder rights plan, which aimed at making it more expensive than it was possible for any single investor to own more than 15% of the company without permission from the board of Twitter, it later accepted Musk’s offer on April 25, 2022. However, Elon Musk’s bid worth $44 bn to buy 100% of Twitter is still pending due to some issues related to spam and fake Twitter accounts.
Twitter wanted all its actions to fall exactly in the place that will help the company and the stakeholders grow. The current scene with Elon looked too unpredictable and unstable to think. The offer that he made was really good but what the board was unable to decide was the fitness of Elon for the role of the most important person in the organisation. If Twitter was bought by Elon, the company will have to do whatever he says as he will have all the controlling rights, thought the board. Elon was surely too unpredictable and uncertain to have the handle for the whole company.
“If the deal doesn’t work, given that I don’t have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder,” said Musk.
This was really a big reply as recently Elon made public his stake at 9% and not the 9.13% that was previously mentioned. This again angered investors in the company. Elon had too much power, which had to be controlled otherwise, this man was expected to buy out Twitter in a hostile manner. We use the word hostile here because if the company refused to accept Elon’s offer, it meant that he will not invest in the company. This directly implied that the stocks will crash, inevitably. This was a situation where the company was taken hostage and what will happen next really looked like a war-like situation between Elon and Twitter. Though everyone thought all of that ended in the reconciliation of Twitter and Elon Musk, who planned to complete his 100% acquisition of Twitter by acquiring all of its shares, which were valued at $44 bn on April 26, 2022, it is not yet done.
In the conclusion, Elon Musk hasn’t yet acquired Twitter and has instead walked away from the deal after the social media giant failed to provide the correct information about the fake accounts that are there in it. However, hearing this, Twitter went on fire and the management of Twitter replied that they will sue the world’s richest person. Besides, both the parties mutually agreed on a fine of $1 bn, which will be levied on either of them if one of the parties tries to back out from the deal.
Twitter has, in fact, sued Elon Musk at the Delaware Chancery Court on July 12, 2022, after he moved to end the acquisition undone. The lawsuit reportedly accused Musk of hypocrisy. However, Musk quickly took to Twitter once again and tweeted “Oh the irony lol.” Though Musk didn’t mention anything in his tweet about the deal, it was apparent that it was a response against the lawsuit, considering that Twitter didn’t even give much importance to the acquisition deal back in April 2022. The Twitter deal, which was assigned to Kathaleen McCormick, who looked over as the Chancellor or the Chief Judge of the Court of Chancery, decided to force-complete the acquisition of Twitter by Musk. McCormick already had a reputation of being a “serious, no-nonsense judge,” which was proven even in this case.
What’s next? Yes, the colossal deal has turned in the direction of dramatically being rolled down to a legal showdown ahead, and the Chancery court’s ruling came in favour of Twitter, where Musk should have to complete the deal. Now, the deal can only go through or it might be pushed further to the higher courts. Twitter, in the meanwhile, has announced that it would hold a shareholders’ meeting on September 13, 2022, when it would have them vote on the approval of Elon Musk’s $44 bn Twitter takeover, as of July 27, 2022.
Nevertheless, we can simply guess the future of the Twitter-Musk deal and wait for the next updates!
The Present State of Twitter
Twitter has been a really famous social media. It is simple to use, has great implications and use cases and people just love it. It is a great platform for sharing news and the most famous thing is, sharing opinions in limited words. This was a clever idea that worked really well, to build a platform that will allow users to type out their opinions and put them on a social wall that can be accessed from everywhere.
When we compare this social medium with other famous platforms like Instagram, we will notice that this is completely different. Instagram is solely focused on photos and videos (mostly small). On the other hand, Twitter is a niche website, which can be exactly defined as a microblogging website. It is the words that count here. And of course, even though there are options for photo and video sharing on Twitter, it is heavily verbal and non-central. Instagram is visually appealing, while Twitter works as more of a community place of common ideas and interests.
If we look at Twitter from a business perspective, there is space for that too. Twitter is most commonly used as community management and customer service platform. Most of the companies in the world operate their community services on Twitter and they are really responsive to queries customers ask. This popular social media platform is on the brink of being acquired by Elon Musk, who would then be summed up as the private owner of Twitter. Elon Musk had initially threatened to blow up the Twitter acquisition deal worth $44 bn. In response to the same, a Twitter stakeholder has reportedly mentioned the need for a judge, who would eventually order the microblogging site to turn over internal papers in relation to the spam and fake accounts. The Twitter deal of Elon Musk worth $44 bn was then approved unanimously by the Twitter board, as per reports dated June 21, 2022. However, there were lingering doubts about the actual deal still because Twitter shares lost their price, which dipped far below the price that Musk offered initially. Also, there were significant doubts that Elon Musk indicated about the debts and the spam and fake Twitter accounts, which Twitter is claiming to be less than 5% of the monetisable daily active users. All of these didn’t satisfy Musk, who decided to terminate the deal in the first week of July 2022, citing multiple contract breaches. Now, Twitter might also get acquired ahead by Musk because the Court of Chancery has already asked to complete the deal by force.
The Expected Future of Twitter
The series of events has already passed its climax but still hasn’t concluded with Elon Musk’s acquisition of Twitter. Thus, there’s surely more to follow. The likely future of Twitter might be changed in the hands of the colossal entrepreneur and tech tycoon, Elon Musk if the deal goes through. To change is to say at least, if not a drastic change. The first such change was noticeable already, even before Musk placed his bid to acquire Twitter in full, which was the approval of Musk’s request for the addition of the ‘Edit button’ on Twitter. Twitter said that it will be adding the edit button soon, which is already in its testing phase. However, on Musk’s walking away from the acquisition deal, it would rather be a not-so-anticipated legal battle that we would be seeing ahead. Brace yourselves because the deal can go either way now. The Twitter-Musk acquisition is now a long legal story that has the preliminary judge’s ruling in favour of Twitter!
Conclusion
Twitter is a famous place to put out opinions and ideas with the aid of words. This is the sole reason that makes it universally famous. Concise wordsmiths love it and are super users of this app. It is not a surprise to hear that Elon loves it too. In a tweet, Elon even mentioned that half of his tweets are from his porcelain throne, which is hilarious and maybe true.
For those wondering, porcelain throne is a slang term that refers to the toilet seat. This person, who is the CEO of Tesla and a very unpredictable person, is now also looking to be the owner of Twitter after buying the largest stake in the company. This sets the hopes of Twitter users to the roof, or we should say to the moon. Elon is unpredictable and is often the centre of controversies. The future is surely unpredictable for Twitter but will be exciting indeed.
As we follow the news more, we get to see that this story is not going to end in a small, tiny tale manner but is probably the beginning of some big shifts in one of the biggest companies in the world. As of now, Twitter still doesn’t stand acquired by Elon Musk. The story has more twists and turns than a Nolan movie. No one can really tell where this story is going to go next but this game of thrones is getting really unforeseeable and interestingly legal.
FAQs
Is Elon Musk on the Twitter Board of Directors?
No, Elon Musk was offered to join the Twitter board but Tesla CEO denied the offer and instead offered to buy out Twitter, which he is still enthusiastic about.
Is Elon Musk active on Twitter?
Yes, Elon Musk is one of the most active people on Twitter and his tweets are quite influential.
Did Elon Musk buy Twitter?
Elon Musk has offered to buy Twitter for $43 billion. As of the recent updates Musk plans to buy out 100% stakes in Twitter for $44 billion in an all-cash deal, which is pending still.
When did Elon Musk buy Twitter?
Elon Musk hasn’t bought out Twitter yet.
Is Twitter a public or a privately-owned company?
The popular social media platform is not still a privately-held company.
Indians are leading worldwide roles in some of the world’s largest businesses, from Google’s Sundar Pichai to Microsoft’s Satya Nadella, Adobe’s Shantanu Narayen to IBM’s Arvind Krishna. India boasts the world’s biggest expatriate and a massive source of IT expertise that serves some of the world’s most prestigious corporations.
People over social media went gaga on 29th November 2021, as one more hero joined this list. When former Twitter CEO Jack Dorsey abruptly stepped down on Monday, he handed the reins to Parag Agrawal, a software engineer who has worked closely with Dorsey in establishing the company’s future.
Dorsey’s faith in Agrawal as CEO is “bone-deep,” the departing CEO said in an email to staff on Monday. “Given how completely he understands the firm and its requirements, he’s been my choice for some time,” Dorsey stated. Know more about this gentleman, in this article.
Parag Agrawal – Biography
Name
Parag Agrawal
Year of Birth
1981
Age
37 Year Old
Nationality
Indian, American
Education
B.Tech. degree in Computer Science and Engineering from IIT Bombay
Parag Agarwal was born in India in the year 1976. He graduated with honours from the Atomic Energy Central School (AECS). He then subsequently travelled to Mumbai to pursue his bachelor’s degree in engineering at the India Institute of Technology (IIT).
Recently IIT Bombay also recognized and valued its alumni for their contributions to the world of technology. He moved on to Stanford University to earn his Ph.D. degree after graduating from college. While at Stanford, Parag Agarwal interned at various technology giants like Microsoft, Yahoo, and AT&T Labs and gained good hands-on industry experience.
Parag Agrawal’s Family
Vinita Agrawal is Parag Agrawal’s wife. They have a daughter named Anamika Agrawal.
Parag Agrawal – Career
Parag Agrawal began working at Twitter in 2011 after working as a student for firms such as Microsoft, AT&T, and Yahoo. Initially, Parag Agarwal focused on advertising-related goods. He afterwards moved on to Artificial Intelligence. On March 8th, 2018, Parag Agarwal was named as Chief Technology Officer (CTO) of Twitter.
His early work as CTO focused on using artificial intelligence to improve the relevancy of tweets in the Twitter timeline. Parag Agarwal has been named the next CEO of Twitter, just ten years after joining the company.
Parag Agrawal – Salary and Net Worth
Parag’s net worth is estimated to be $3 million. He will be worth millions of dollars in no time thanks to the significant rise in his basic income and bonuses. Parag will get $1 million yearly remunerations and $12.5 million in stock compensation as CEO of Twitter, according to the company.
Parag Agrawal – Journey with Twitter
In an email to Twitter employees, Agrawal stated that the firm had less than 1,000 employees when he started. He wrote, “I’ve walked in your shoes, I’ve seen the ups and downs, difficulties and barriers, successes and blunders.”
As Twitter tries to shake off a reputation for being sluggish to develop, he’s focused on machine learning and other technological breakthroughs that have allowed it to bring out new features and products more swiftly.
The board of Twitter, according to sources, had been seeking a full-time CEO for the social media business for the past year. Jack Dorsey co-founded Twitter in 2006 and served as its CEO until 2008 when he was fired. After former CEO Dick Costolo left in 2015, he returned to the firm as an executive.
Parag published a statement expressing his thanks.
“Thank you very much, Jack. I’m both honoured and humbled by this. And I appreciate your continuous mentoring and friendship ” – Parag Agrawal
Agrawal reflected on his experience at the firm, saying:
“Right now, the world is watching us much more than before. Let’s demonstrate Twitter’s full potential to the rest of the world “.
Parag Agrawal – The CEO of Twitter
At a time when Twitter is actively seeking new ways to expand its user base, Agarwal’s appointment comes at a fortunate moment for him. By the end of 2023, the company expects to have 315 million DAUs (Daily Active Users) and expect to have more than doubled its annual revenue. He takes over as CEO at a time when the corporation has been criticized by investors for failing to create a new monetisable product in years, prompting the announcement of the 2023 plan.
Parag Agrawal – Unknown Facts
Here are some amazing facts about Parag Agrawal:
He is a machine learning expert who has played a key role in Twitter’s adoption of the technology.
According to his thesis adviser, Parag was born in Mumbai and has a strong knowledge of mathematics as well as experience working with massive datasets.
According to a New York Times story citing Silicon Valley insiders, Parag is “quiet, courteous, profoundly technical, and passionate about an internet where power and control are given back to people,” exactly like Jack Dorsey.
At the 2001 International Physics Olympiad in Turkey, Agrawal received a gold medal.
Parag is an adventurer who loves to do skiing and hiking. Along with that, he is fond of trying new dishes and eating a variety of food.
Even though Parag lives in the US, he celebrates all the major Indian festivals like Holi and Diwali.
Bollywood’s famous singer Shreya Ghoshal is reportedly known to be Parag’s classmate.
Parag is an avid cricket lover and loves to watch cricket matches in the stadium.
As per unknown sources, Parag secured a 77thrank in his IIT JEE exams.
The promotion of Parag Agrawal, Twitter’s former Chief Technological Officer, underscores the importance of immigrants in the world’s leading technology organisations. He joins Microsoft’s Satya Nadella, Adobe Inc.’s Shantanu Narayen, International Business Machines Corp.’s Arvind Krishna, and Alphabet Inc.’s Sundar Pichai as the highest-profile executives of Indian-origin in the United States.
Agrawal has kept a quiet profile thus far, concentrating his knowledge in product development and market research. Before becoming CTO, he was recognised as Twitter’s first notable engineer for his contributions to audience growth and revenue. Now that he’s the CEO, he’ll have to navigate a friendlier path with India if he wants to achieve his ambitions of growing Twitter’s reach.
FAQs
Who is the wife of Parag Agrawal?
Parag is married to Vineeta Agrawal.
What is the age of Parag Agrawal?
Parag Agrawal was born on 21 May 1984. He is 38 years old.
What is the net worth of Parag Agrawal?
The net worth of Parag Agrawal is $3 million.
When was Parag Agrawal appointed as the CEO of Twitter?
Parag Agrawal was appointed as the CEO of Twitter in November 2021.
With 206 million daily active users worldwide as of the second quarter of 2021, Twitter, symbolised by the renowned bluebird, grew from the ashes of a failed company named Odeo to become the #1 platform for discovery and generally regarded as the Internet’s SMS.
It originated as a text messaging network that limited tweets to 140 characters (now changed to 280 characters). One of Twitter’s co-founders, Jack Dorsey, sent the first tweet on March 21, 2006, with the message “just setting up my twttr.” Twitter has evolved to be one of the most popular social networking platforms in the last decade, with over 200 million monthly active users.
Twitter is a social networking and news website where users exchange brief messages known as tweets. Biz Stone, Jack Dorsey, Evan Williams, and Noah Glass launched it in 2006 after another firm, Odeo, was stung by the introduction of Apple’s iTunes. Twitter’s headquarters are located in San Francisco, California.
You may send tweets to everyone who follows you on Twitter, hoping that someone will find your remarks valuable and entertaining. Unregistered users can only read tweets, but registered users may send, write like and receive tweets.
Microblogging is a term that might be used to describe Twitter and tweeting. Despite being 15 years old and having over 300 million monthly active users, the network is still in its infancy in terms of revenues. And, because the platform is free to use, it’s not immediately obvious how Twitter makes money.
Twitter makes money from its users’ attention in two ways: advertising and data licencing. Advertising generated 87 per cent of company income at over $1.05 billion in 2020, up 87 per cent. The remaining portion is data licencing, which increased by 9% year over year to over $137 million, mainly due to corporate clients using data analysis.
Although marketers pay to depend on the number of clicks or retweets, a pre-determined advertising budget is specified at the start of a campaign. Advertisers may also utilise streaming video advertisements on the site to target a specific demographic. Content producers may use features like live streaming and video on demand to expand their worldwide reach and user engagement.
Twitter makes money from data licencing in two ways:
It provides data products and licences allowing Twitter’s data partners to search, access, and analyse historical and real-time data derived from public tweets and their content and it also provides mobile advertising exchange services through the MoPub exchange.
What distinguishes Twitter from other social media platforms?
Keeping things clean and clear is the way to go, whether the goal is to build a personal brand, advertise a product/service, or do anything else that attracts public notice. What could be better than a platform that allows you to communicate with the rest of the world in just 280 characters?
Twitter promises to take all reasonable steps to prevent authorised parties from misusing data. It follows the Digital Advertising Alliance Self-Regulatory Principles for Online Behavioral Advertising. Twitter implemented labels in November 2020 to alert users about the possibility of error in the information provided in a tweet. This community users includes people from many areas of life. Twitter allows anybody to immediately communicate their thoughts and opinions with the rest of the world.
Only when the user has given their consent is personal data shared with digital marketers. Twitter’s privacy policy lays out all the options and urges users to read it to see how their data is used.
Advertisements provide for the majority of Twitter’s revenue, and users can view various advertising on the network.
Advertisers who want to reach a larger audience or increase interaction from their existing followers can purchase Promoted Tweets, much like average Tweets that users can engage with. Using its proprietary algorithms, Twitter algorithms aim to display sponsored tweets on user timelines that may spark their interest in the product or service. Promoted tweets allow companies to increase their visibility.
Promoted Accounts is a way of gaining followers by promoting one’s account to related individuals. Users can get recommendations for “Who to follow” on Twitter which is determined by user choices, demographics, geography, and overall platform activity. It may assist a new brand in promoting itself and an established brand in boosting a new campaign and making it viral. Advertisers may utilise this to build a community of Twitter users interested in their products or services.
Promoted Trends Hashtags give you a sense of what’s hot right now. Promoted Trends are a 24-hour high-impact takeover of Twitter’s Trends list, according to Twitter.
They appear in the first or second slots in the “Trends for you” section, in a user’s timeline and the “Explore” page, and are used to launch something new or relate to present conditions. Businesses can subscribe to Twitter for a fee.
Businesses may extract valuable insights from this data using various complex analytical tools at their disposal, allowing them to better respond to customer demands.
Data Licensing
Partners can use Twitter’s data licencing offering to access, search, and analyse real-time Twitter data made up of Public Tweets. Twitter distributes about 500 million tweets with data partners every day, but only with a few firms.
Exchange MoPub
Twitter’s MoPub Exchange is a mobile advertising exchange that connects advertisers to sell ad inventory with buyers eager to acquire it. Twitter is paid a fee for each transaction that takes place on the exchange.
Conclusion
Twitter’s business strategy has stayed constant throughout time, and the company is still aiming to become profitable but has failed to do so.
Despite all of its grandeur, excitement, and effect, its stock performance has been terrible, and many have dubbed its business model “broken.” Twitter has experienced several losses over the years, and the beatings will continue until the business model is adjusted or changed.
It’s a harsh reality that monetisation has been a challenge for Twitter, and rumours abound that corporations like Disney and Salesforce may be interested in acquiring the company.
Twitter was created by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in 2006.
How does Twitter make money?
Twitter makes money basically from two main sources which are:
Advertisement and Promotions
Data Licensing
What are microblogging platforms?
Microblogging platforms are platforms for sharing text, image, or video based blog in which content is typically smaller in both actual and aggregated file size. Some of the top microblogging platforms are:
Possessing more than 250 million active users, Twitter is one of the most talked-about and most used social media stages. It has this number of active users who log in at least once a month.
So basically Twitter is a microblogging and social media networking site of service. This American-based social media platform allows its users to post and have normal interaction through messages.
And these messages are known are “Tweets”. Only the foremost registered users can post, like, and retweet the old tweets, but the ones who are unregistered are only able to read them and nothing other than that. Before knowing some surprising facts about Twitter, let’s have a look at its highlights.
So as Twitter has been growing on a larger scale in terms of membership, platform popularity, and its day-to-day usage. So now it looks increasingly very interesting to have a look at the facts and other figures about this micro-blogging social media platform that is Twitter. Some of the interesting facts about Twitter are:
At first, there were doubts about whether the hashtag would ever become popular with internet users since it appeared too technical and nerdy. The person who is to date held responsible for introducing the famous hashtag into this packed digital world is Chris Messina.
Hashtags were designed just to help the existing users connect with a much particular theme. They are mostly used during events and other conferences to help people find other relatable posts about a similar thing.
Twitter – The blue Twitter bird in the Logo is Larry.
Twitter Bird – Larry
Another interesting fact about Twitter is Larry, the bird in the logo of Twitter. Many people including Twitter users also may not know that Larry was its name and something like this existed.
Larry’s name came before the world as well as the limelight after the year 2012 although this social media platform was being operated since 2006 with the same logo. When people started questioning and speculating about whether Larry is a definite name or not. It later got confirmed by a manager of Twitter.
Interesting Facts about Twitter
Twitter – The first tweet was done on March 21, 2006.
The first interesting fact about Twitter is that that first tweet was tweeted factually on 21st March 2006. Jack Dorsey, one of the present co-founders of Twitter was the man to post the first tweet.
So, Jack Dorsey took it to Twitter and posted the first-ever tweet in the entire history of Twitter at exactly 9.50 P.M. The tweet read, “just setting up my twttr.”
Twitter – Friendstalker
Another interesting fact that hardly anyone knows is that “Friendstalker” was one of the original ideas for the name other than Twitter. Initially, this name was highly on the cards.
Twitter – The Library of Congress often archives all tweets.
One of the underrated interesting facts related to Twitter is that in 2010, the United States Library of Congress started archiving all tweets.
But it was announced in 2017 that it would be more selective with its tweets that are being archived. This decision came in because the number of tweets was increasing. So, thinking rationally, the Library of Congress decided that it will archive only a certain number of tweets only for the interest and benefit of the people of America.
Twitter – Barack Obama has the most number of Followers.
Most Followed person on Twitter- Barack Obama
Another interesting fact about Twitter is that Barack Obama the former President of the United States of America is the most followed person on Twitter with 129.8 million followers.
He has the most number of followers on Twitter followed by Justin Bieber with 113.8m followers and Katy Perry with 108.3m followers.
Twitter – If you follow the Pope on Twitter, you are a better person.
Another interesting yet hilarious fact of Twitter is that according to the Vatican if a person follows the Pope on Twitter, the person is good.
This is because the Catholic Church and the Vatican claim that helping the needy, charity to the poor, and enchanting the prayers daily make you a better person.
Twitter – Nearly 4 Lakh Tweets are being made a minute.
One of the most interesting facts about Twitter is that, in an average single Minute, approximately 4 lakh Tweets are being posted on Twitter.
This sums up to a massive number of 500 million Tweets a single day. It seems a large quantity but in comparison, Facebook has an average of 4 million new posts every single minute and that’s huge concerning Twitter.
Twitter – Early days’ problems.
By early 2007, Twitter started to grow more, and the communications and media team had the advantage of the famous conference and events to make the usage maximum and add more people to Twitter.
Around 2007, approximately 50,000 tweets were made every single day on Twitter. This in return proved to be too efficient for the existing servers to handle at a time.
Twitter – Ellen DeGeneres’s Selfie
Ellen DeGeneres’s selfie in March 2014 on Twitter
And here we come to the most interesting fact about Twitter: Ellen DeGeneres’s selfie in March 2014 at the Oscars became the most retweeted tweet ever in the history of Twitter.
It then becomes one of the most celebrated selfies of all time, as well as being a famous tweet. As also this was one of the main objectives of the tweet by the time Ellen posted it.
Twitter – Initially, it was “Twttr” not “Twitter”.
Another interesting fact about Twitter is that it was not called Twitter in its earliest days as it is now. The name “ Twttr” was the actual name chosen for this service. The basic idea for this name is still attributed to Noah Glass.
Another stunning fact about Twitter is that in Sweden the official account was being run by a new swede every other week. Yes, it’s true. In 2011, the Swedish government handed over the keys of the official Twitter handle to any citizen every week. The aim was to show the country as it existed through the eyes of the various citizens.
Twitter – The most preferable time to tweet.
Yes, this is a most useful and interesting fact for a Twitter user. This is because if you are a Twitter user then you must tweet within this time to get maximum reach for your tweet. This is because the most active user is found in between this period.
Twitter – A Hangtag
Another interesting fact about Twitter is that when a tweet is ended with an empty hashtag it is called a hangtag. This is because it is considered to be Twitter’s version of the mic drop.
Twitter – Twitter is being banned in many countries.
One of the most interesting and trending topics of issue about Twitter is that it is getting banned by many countries. This is because it is violating the restrictions of the government.
Recently it got banned by Nigeria. Before it was banned by China and some issues were also raised by India to ban it.
Conclusion
So at last these were all the interesting facts about Twitter. Some were highly underrated and overrated. Some were on some positive or negative note. Yet Twitter is considered as one of the most powerful social media platforms to raise a powerful voice in later being supported by other people.
FAQs
When was Twitter founded?
Twitter was founded in the Year 2006.
When was the hashtag first seen on Twitter?
The hashtag was first seen in 2007.
What is Hangtag?
A tweet ended with an empty hashtag it is called a hangtag.
When was the first tweet on Twitter?
The first tweet was tweeted factually on 21st March 2006.
What is the age limit for opening a twitter account?
Twitter requires people to be 13 years of age or older for using twitter services.
The widely famous web developer, Jack Dorsey is known as the co-founder of Twitter. He is counted among the top technology entrepreneurs in the world, which contains the illustrious names of Elon Musk and Steve Jobs.
But the brilliance of Dorsey isn’t limited to Twitter only, in fact, he acquired two major companies- Twitter and Square. And according to Forbes, this duality gives rise to Jack Dorsey with a net worth of over $4 billion.
Jack Dorsey is prominently known for co-founding Twitter in 2006 but his journey on the Twitter platform has been a hell of a ride. He had faced countless hardships throughout his tenure.
Jack Dorsey was born and raised in St. Louis, Missouri. According to some facts, Dorsey expressed his superior intelligence from a very early age. Yes, he was only 13 years of age when he designed the software for the dispatch routing. In fact, many cab drivers are still using this app for better mapping and smooth driving.
Dorsey’s prominent mobile payments company Square is also growing at quite a pace. According to Nomura Instinet sources, the company has beaten its biggest opponent PayPal in the race of fastest-growing digital payment company.
In this article, we have presented some of the very interesting yet lesser-known facts of Jack Dorsey. Let’s get started!
Jack Dorsey was Obsessed with dispatch communication services as a kid
As a kid, Jack Dorsey was fond of trains which later transferred into his obsession with emergency dispatch communication services. He always finds the voice of the police scanner very intriguing.
In an interview with the CBS program “60 minutes,” Dorsey said that whenever he heard the police scanner, the police always talked about where they are, what they are doing or where they are going and this is what gave him the idea of Twitter.
Jack Dorsey’s Morning Routine
Jack Dorsey has set Twitter in his morning routine. When he wakes up, the first thing he does is check the weather but soon after, he opens Twitter in order to check what’s happening in the world and where? This gives him a sort of idea of what is going on in the world currently.
Jack Dorsey has a Crucial role in Twitter advancement
Jack Dorsey has a very essential part in the development and advancement of Twitter. He was the CEO of Twitter until 2008 but, on 16 October 2008 Evan Williams took over the job of CEO. Currently Jack Dorsey serves as the CEO of Twitter. But as the co-founder of Twitter, his association with it didn’t end. Later on, in 2011, Jack Dorsey got the position as the board’s chairperson. And, he became the chairperson of Twitter Inc.
Jack Dorsey is Not an Affluent Communicator
Most people don’t know this, but Jack Dorsey is not an affluent communicator, especially when it comes to speech. In an interview with 60 minutes, he said, “People often find it pretty unsettling as I am a silent person. They intend to know my thoughts but I prefer staying silent most of the time.” He added, “I am no expert when it comes to public speaking or even individual conversation. I am a silent person and that’s my basic nature.”
Jack Dorsey does not consider himself a Nerd
Jack Dorsey finds it very insulting when people call him a nerd. Once in an article of Forbes, they addressed him as a nerd. Although the article was pretty intriguing, Dorsey wasn’t pleased with it all. He mentioned, “It’s very offensive that people find me more of a nerd than Steve Jobs. I think they do because I am a programmer and that isn’t a sign of a nerd.”
When Jack Dorsey was fired from his own company in 2008, he went to speak with Facebook CEO- Mark Zuckerberg. Dorsey’s Twitter story went pretty viral, reported by Nick Bilton as “Hatching Twitter: True Story of Power, Friendship, Money and Betrayal.”
Mark Zuckerberg almost hired Jack Dorsey but due to the lack of a distinguished role, Dorsey couldn’t join Facebook. This is briefly described in the book by Nick Bilton.
Jack Drosey is a College Dropout
Like most of the brilliant minds and developers, Jack Dorsey is also a college dropout. Dorsey started attending the University of Missouri-Rolla but after two years, Dorsey got transferred to New York University. When one semester was left of his graduation, Dorsey dropped out of New York University, according to STLToday.
Later, he moved to the West Coast where he found the idea of Twitter.
Jack Dorsey Doesn’t have any Desk at Square Headquarters
We often expect the CEO and chairman to have a big glass office with a fine desk but, you’d find it pretty odd that Jack Dorsey as being the chairman and CEO of Square doesn’t have an office or even a desk. Yes, Dorsey prefers working freely on his iPad while roaming around the office.
Square, San Francisco Headquarters
When asked, he told “60 Minutes” that “Its always self-awareness and intriguing to know that other people are working their best here, it’s not just you.”
Jack Dorsey has always been brilliant and there was nothing that he couldn’t do, even as a child. He used to work as an intern at the age of 15 in Jim McKelvey’s software company, Mira Digital Publishing. Jim McKelvey was pretty impressed with Dorsey’s performance. He even used to call him “Jack the Genius.” Later, Dorsey along with Jim McKelvey founded a payment company, Square.
Jack Dorsey is an admirer of Architecture and Cities
Very few know that Jack Dorsey is a great admirer of cities and their architectures. In an interview, he said, “My favourite activity of a Day is scrolling through the urban areas. I found its architecture very fascinating and admiring.”
Jack Dorsey often wanders around the streets of San Francisco and New York.
Conclusion
The 41-year-old Jack Dorsey has put great efforts and work into the advancement of Twitter. When he was fired from his social media network, Twitter. He didn’t stop, instead, he focused on invention and later returned as the chief of Twitter seven years later.
Meanwhile, his other prominent payment company- Square succeeded more vibrantly. Jack Dorsey is a brilliant person with great ideas in mind. Each day, he moves a step closer to the advancement of the next level of technology. And people often find it very interesting knowing the rare facts about him. Thus, we presented this article. Stay tuned for more updates.
FAQ
Does Jack Dorsey have a degree?
Jack Dorsey never graduated college but He briefly attended the Missouri University of Science and Technology and then transferred to New York University.
What is the net worth of Jack Dorsey?
The net worth of co-founder and CEO of Twitter is US$15 billion as of 2021.
What companies does Jack Dorsey own?
Jack Dorsey has been CEO of both social media firm Twitter and small business payments company Square since 2015.
Twitter is a social media platform founded in the year 2006. The users of this platform interact with each other through messaging which is known as tweets. The platform is widely used across the globe. Twitter has plans to come up with a lot of new features for its platform to increase its revenue.
One of the new features is Twitter spaces, which is a rival of the invite-only social media app clubhouse.
Twitter has launched a new feature on their platform which is called Twitter Spaces. This feature will let users have live audio conversations with their followers. The new feature is still in the beta stage. The platform has been collecting feedback from the selected people chosen for the testing.
The Twitter users on both IOS and Android can now join and talk in the audio conversations which are called spaces. You won’t be able to host your own space unless, you are one of the individuals who is selected for the testing stage.
The company is planning to make Twitter Spaces available to everyone by April 2021. The Twitter employee stated that they are soon going to make the feature available to everyone very soon.
How to Use Twitter Spaces
The creator of the Twitter space will be called host. If you are a host you have two different ways to start your space. You can either click on your profile image in fleets, scroll to the right and click on spaces. You can also long press on the tweet compose on the home timeline and then click on the spaces icon which will be in the shape of a diamond with multiple circles.
Twitter Revenue by Business segment
Features of Twitter Spaces
In spaces, up to 11 people can speak at a given time. If you are the host then you can choose whom you would want to speak by giving them the permission to speak. You would have some options to choose from which would include everyone, people whom you follow, and people you invite to speak.
Host provides permission to speak
Once the audio conversation starts you can control the conversations by providing them permission to speak. If you are a listener then you will have to request the host to provide permission to speak by clicking on the request icon.
Spaces can be Accessed by anyone
As of now, your spaces can be accessed by anyone. It will be visible like public tweets and they will appear on top of the tweets. Spaces will have a link which you will be able to share it with different people and you can invite people using that. You can also send an invite link through your DM.
Host can control the Space
If you are the host of a space you can control who is supposed to speak in your space. You will have the power to even remove, block, or report a user from your space. Even the other speakers or listeners can report and block people in the space. If you block a user from your space, you will be blocking his Twitter account as well.
Report a Space
You also have the feature to report a space. If you feel that a particular space is violating the rules of Twitter then you can report it. Anyone can report about a space. Speakers, listeners, or even any account in a space can report about that particular space. You can also report about a person in a space but you will have to provide the reason for it.
No limit to number of listener in spaces
There is no limit to the number of listeners in the twitter spaces. The host will have the right to end a space. space can also be stopped if it is found to be violating the rules of Twitter.
Twitter Spaces comparison with Clubhouse
Twitter spaces are available to all the Twitter users, unlike the clubhouse. Clubhouse works on an invite-only basis and one can join the clubhouse rooms only if they are invited. Twitter spaces are open for all and anyone who has a Twitter account can join the spaces and be part of the discussion.
In the clubhouse, if you are muted you won’t be able to provide any reactions during the conversations. But in twitter spaces, you can provide reactions through emojis. There are certain emojis you can use for now to provide your immediate reactions or response without unmuting yourself. Twitter spaces help you follow an account easily by clicking on their profile during an ongoing audio conversation.
FAQ
Who created Clubhouse social media?
Baiju Bhatt and Rohan Seth are the founders of Clubhouse.
What is the valuation of Clubhouse?
Clubhouse has a valuation of $1 billion as of 2021.
What is the valuation of Twitter?
As of 2021 valuation of twitter is $51 billion.
Conclusion
Twitter has many upcoming ideas with its new feature spaces, which would include features like offering a piece of welcoming music for the hosts of the spaces, tweeting inside the spaces directly without being displayed on the public timeline etc.
Twitter had started testing this feature by the end of February. The company in the beginning concentrated on Women and marginalized groups with 1,000 users. Twitter spaces are just one of the new features of Twitter. The social media platform has plans to come up with other new features like super follows and Twitter fleets.
Twitter is moving beyond the traditional social networking business model and is experimenting with new business model to sustain their platform. The latest test is a subscription service for exclusive features.
Twitter is considering a subscription model to counteract its falling ad revenues. CEO Jack Dorsey said subscriptions are just one of several ways the company is looking to boost income from users.
Twitter has had a meteoric growth as a popular microblogging platform with its quirks. Several celebrities like Elon Musk, Donald Trump and Kangana Ranaut use this platform to post controversial thoughts quickly picked up by the audience.
A subscription model could offer a new source of revenue for Twitter. By charging some of its 353 million users in the US and others elsewhere to access extra features such as more followers or enhanced analytics. It would also mark Twitter’s most significant departure from its core advertising business model when it is struggling to attract advertisers.
The company has suffered a sharp decline in its ad revenue in recent quarters as it works to grow beyond its stagnant user base. The majority of the revenue share came from the targeted advertising model that this platform offered. In 2021, Twitter is looking to move away from revenue dependency on brand-oriented advertising approach.
How will Twitter’s new Subscription Model look like
Twitter launched a survey among users last year in July 2020 to analyze the interest levels.
After CEO Jack Dorsey confirmed Twitter is exploring a subscription model, the company is conducting user surveys on what type of features they'd like to see in such a service.
Undo send, special badges for profiles and advanced analytics are among the features being considered. pic.twitter.com/hL6T8sdI0s
These are the potential features that are likely to be provided to the premium Twitter users in 2021.
1. Undo Send
Post something really embarrassing accidentally on Twitter? No problem. This feature helps you delete your Tweet before anyone even sees it, all within 30 seconds of posting. The premium Undo event on Twitter is a simple way to recall or withdraw a tweet, so it never gets seen by anyone.
2. Custom Colors
Change the feel and look of Twitter – adapt it to suit your style. In addition to Night Mode, the premium feature allows you to change your default background color and other critical elements in your interface. The new custom color setting gives you more control over the appearance of Twitter on your phone or computer.
3. Video Publishing
Twitter currently limits uploaded video size to 140 seconds or 6 MB for most users. With a premium subscription, you could publish videos 5x longer than the current default settings (i.e. 5 minutes), and use a much higher maximum resolution (8192×8192) for each frame within the video.
4. Badges
Twitter Badge helps users learn more about the people they follow on Twitter. The badge shows users the businesses a user writes for or owns. It’s just another way for people to discover others and get to know them better. It also helps maintain a credible brand presence.
5. Auto Responses
Auto-response in the premium version of Twitter helps you come up with tweets that can increase your following. This is done through a menu of auto-responses to use in the direct messages to Twitter netizens. When Twitter detects a matching phrase, it will send out an automated reply.
6. Social Listening
See how often your brand is mentioned on Twitter and get a deeper understanding of what people are saying with the new social listening tool. This tool lets you see the general conversation around a brand, including total volume seen through the social search function, and which users or businesses are talking most often.
7. Brand Surveys
Create surveys and polls to collect feedback about your Twitter Ads campaigns. This insight can help you measure your campaigns effectiveness, understand if your audience is likely to buy the products or services featured in your ad, and optimise future creatives.
8. Freedom from Ads
Enjoy premium Twitter with a different kind of streaming experience. Say goodbye to ads; say hello to a whole new look and feel without the distractions of promoted tweets. Have your data protected from advertisers and upgrade the privacy options.
Disclaimer: “This is not necessarily reflective of Twitter’s future subscription model, and will change at the discretion of Twitter’s management. The survey is the current source of official information.”
Twitter Revenue
Will the Subscription Model impact Twitter’s growth
There has been a general resistance against paid social media networks in general. A Washington Poll in 2018 revealed that fifty-eight percent of the respondents wouldn’t pay for Facebook if it adopted a paid network model. The same would go true for Twitter. However, Twitter has always emphasized that they would not ask the users to pay for the current features they enjoy.
The most important thing to remember is that Twitter must be a zero-sum game. For users who are not paying for access, there can’t be any knock-on effect of paid Twitter users keeping content to themselves.
Twitter is a model that depends on users, not mouse clicks. It’s the connective tissue between friends and strangers, emphasizing broadcast v/s a one-way conversation (social media has been big on one-way communication).
FAQ
How does Twitter make money?
Twitter earns its revenue from Data licensing and Advertisements.
What is Twitter’s net worth?
As of Oct, 2020 Twitters revenue was nearly $40 billion.
Who is the CEO of Twitter?
Jack Dorsey is currently the CEO of Twitter.
Conclusion
An exclusive Twitter subscription model could be just what the company needs to make money and keep customers privacy intact. In this world, where our activity across social media platforms is monitored, Twitter can offer a premium social network to eliminate our privacy concerns.
For a business to set up a social media presence it needs to market on famous websites. Facebook is the best choice to start marketing on social media. It helps businesses to generate leads and boost sales in any niche. On average more than 2.8 Billion people use Facebook every single day. Some may use it once and some multiple times.
With the help of Facebook ads manager advertising on Facebook has become easier and more efficient. This makes Facebook a platform where one can find a potential customer and convert them. The positive point is that the user might be connected to his friends and family all over Facebook. The user may be looking for a company for business. Hence, Facebook is a platform that helps people meet.
This growth of Facebook name in the business world is in return a marketing example by the company itself.
Strategies for Facebook Marketing
With Facebook providing easy to manage and highly targeted advertising you will need a solid marketing strategy. It will connect your business with a specific customer group and increase ROI. Following trends and engaging an audience will help you in achieving a target.
Facebook ads strategy
Growing brand audience and loyalty is a long process. One needs to be very consistent and up to date to earn this. But with Facebook this can be achieved with fewer efforts. Facebook ads manager and Facebook ads manager support make it simpler. Facebook makes it simpler but not easier. To grow audience and loyalty towards your brand you would have to effectively build your brand and advertise correctly.
Social media integration
Use all your social media handles for sharing. After rising of digital marketing social media has emerged to be the mightiest marketing tool. Facebook dominates social media and shares your social profile everywhere. A business is likely to get more leads from Facebook.
Facebook community engagement
It is the best way to get attention on social media. The more you engage your community, the more are the chances of converting them to your customers. Posting images, videos and hosting interactive sessions will gain you good Facebook community engagement. Videos have proven to be best means to attract and keep people’s attention. Interacting with users and continuing conversation is also a good means of getting engagement.
Understand your Niche
Understand intent and behavior of people following your page. Understanding current user breakdown will help you to plan Facebook marketing strategies. Try to address their problem and provide a solution.
Study the demographics and plan accordingly
Facebook is the biggest social media platform and also the difficult one to use for organic content. Posting content at the right time increases reach and engagement. One needs to schedule posts and post right time and date as content creation and curation are very important components of social media marketing strategy.
Marketing By Facebook
Reshuffling of content
Facebook is a platform that uses online services to orient its content. A specific feature of Facebook reshuffles its content. Due to this a user gets to see a new page and gets in touch with a different content every time they use the services offered by the company. Facebook takes a lot of care of the overall experience of the user.
Facebook has a popularity far more than companies competing with it. Facebook is known and always the first option. This is due to the positive awareness towards the company. According to a brand evaluation Facebook stood with a value of $147 billion but had a 7% decline in value in the year 2020
Reason behind the Brand Name
The market in which the company operates is a highly competitive one. This sector is not new to everyday changes. The only mantra to sustain here is to innovate or else perish. Many companies fight daily on an average to emerge as an innovator. Facebook has already achieved this status which gives it its Brand Name.
BCG Matrix is used by companies to analyze the growth and performance of their products. Every method is a question to some answer. The question that the BCG Matrix answers is “Which product to put in the money and which to withdraw from”. Basic points to understand are:
Cash Cows–most profitable
Stars– high competition
Question marks– uncertainty
Dogs– can be less profitable or may even be negative profitability
Facebook and BCG Matrix
Every product that is offered by Facebook is a star in the BCG Matrix. This is something very noticeable. All these products have brought a lot of popularity since their beginning. Facebook is a major Market Share itself. But it has competition from companies like LinkedIn and Twitter. Instagram faces competition from Snapchat. But Whatsapp is a clear winner due to its worldwide deep reach.
Facebook’s main competitor
Instagram the photo sharing application is the biggest competition of Facebook. It is very odd to say this as Facebook bought Instagram. The deal was confirmed in 2010 for just $1 Billion. Instagram has a net worth of more than $100 Billion. So, Facebook is at a huge profit.
Mark Zuckerberg
LinkedIn is another website that is aimed mostly at Professionals. Microsoft bought it in 2016 for $126 per share. LinkedIn had an annual revenue of about $6.8 billion at the end of 2019.
Twitter was started in 2006 by Jack Dorsey, Noah Glass, Blitz Stone, and Evan Williams. Twitter relies mostly on advertisements for revenue. The company had an annual revenue of about $3.45 Billion at the end of 2019.
Facebook made $17.44 billion through ad revenues. This makes up the lion’s share of its revenue growth. The Company’s hardware business Portal and Oculus, grew 80% year-over-year to $297 million.
Facebook Revenue growth rate
Marketing on Facebook
Facebook Marketing also can be taken as individuals marketing their products on the social media platform. A user can create a Facebook page to advertise a product. Facebook provides these services to the users for free. Users can create individual profiles or business pages for companies. One can also create a page for any group trying to develop a fan base for a product, service, or brand.
Sectors which benefit the most
Brands. Food, electronics, home goods, restaurants — nearly any kind of item or company can be promoted through Facebook. This can turn passive customers into active fans. People then would follow news of promotions and developments. They would then share it with their own friends.
Local businesses. A business family-owned, or a franchise both can benefit from this. A Facebook page basically helps to turn a customer base from local to a fan base.
Personalities. Musicians, celebrities, authors, syndicated columnists are mostly people who want to be known. They make money by interacting with more and more people.
Non-profit organizations.NGOs such as Charities, political groups, and public service campaigns come under this. These can use all the people connecting abilities of the social media platform for their use.
Niku Mandal
Ananya Shetty
