Affiliate marketing has always been an excellent way to monetize online traffic and earn a decent commission. Only the way people conduct affiliate marketing kept changing. If you have searched for ways to make passive income online, you must have come across affiliate marketing as a common suggestion.
It is a performance-based marketing tactic wherein affiliate marketers are given a commission(s) for every successful sale they make. The sale can be conducted through any medium, i.e., email marketing, ads, blogging, social media, etc.
Of all the mediums, social media opened massive avenues for affiliate marketing enthusiasts to begin their journey. Since social media platforms are free to join and easy to use, more people can try their hands at affiliate marketing. But is selling through social media channels this easy? Well, not really. You cannot expect to publish an affiliate link and expect people to buy from it.
You will have to create a social media plan, get the necessary tools, and be consistent with your effort to see any results. If you’re starting, you can follow some tried-and-tested methods discussed in this article. When executed correctly and consistently, the results can be impressive.
Affiliate marketing can be best defined as a Cost-Per-Action (CPA) affiliate model wherein affiliates (content creators) are given a commission for every successful sale by brands. Whether you’re an online content creator or a brand offering products/services, affiliate marketing creates a win-win situation for both.
As per the data shared by similarweb.com, affiliate marketing generates approximately 5% to 25% of the total online sales for some of the world’s biggest brands, so you know how powerful it is. You can earn a hefty commission(s) as a creator by successfully selling a brand’s products to your dedicated audience. On the other hand, brands can generate more sales by simply paying a percentage of sales to the approved affiliates.
So whether you’re looking forward to earning some extra passive income as a creator or want someone skilled to sell your products as a brand, affiliate marketing is the way in the future.
7 Ways to Use Social Media to Generate Affiliate Sales
The best part about affiliate marketing is that it can be done via any medium. Earlier, affiliates relied heavily on blogs and email marketing to promote affiliate products. But the advent of social media offered a newer and better avenue to attract and build a target audience.
As per Similarweb.com, 67% of affiliate marketers use social media as a tool to connect with their customers
If you combine the total number of social media users on platforms like Facebook, Twitter, Instagram, etc., the figure surpasses an astounding 4.5 billion mark as per the data shared by wearesocial.com. With so many people online, you cannot risk not leveraging social media platforms to your advantage. If you’re an affiliate marketer trying to get sales from social media platforms, the following tried-and-tested methods can help you get visible results.
Leverage Niche-Specific Groups
An Example- Yoga specific Facebook Group
Social media platforms like Facebook have countless groups created around particular interests. So if you’re promoting affiliate products in the yoga niche, look for groups built around yoga, health, wellness, and similar topics.
Joining such groups will give you instant access to people who would be interested in buying the products you’re promoting. If you’re in for a long-term game, ensure you don’t spam niche-specific groups.
It will only increase your likelihood of getting banned from the group. Instead, focus on delivering value to the people inside the group, and making sales will become much easier. You can check the next point to learn how to sell in social media groups without spamming and getting banned.
Emerge as the Community’s Influencer
An Example- Leah is a digital content creator as well as an affiliate marketer of beauty and health products
When it comes to online communities, you can either create one from scratch or join an existing community. The former option would easily require a lot of time, so you might consider joining an already well-established online community. Once you get approved in such communities, your focus should be on providing value around the topics related to your affiliate products.
Direct publishing of affiliate links will mostly lead you to a permanent ban from the group, so you should focus on establishing yourself as a trusted influencer. You can achieve this feat by consistently sharing helpful posts, assisting people through comments, etc.
Once people know you, start incorporating affiliate products in your posts and describe how they helped you. The more problems you solve for your target audience, the more sales you’ll make.
Be Consistent with the Delivery of Attention-Grabbing Content
It can be an extension of the previous point as both will touch lines with sharing highly relevant and helpful content. Whether you’ve decided to join niche-specific communities on Facebook or have planned to build an audience on your personal Twitter or Instagram profile, one thing will remain unchanged, i.e., the need to share helpful and attention-grabbing content.
A golden rule of affiliate marketing is one should never try to force sales. The affiliate should focus on solving the problems using an affiliate product, and sales will follow. You can do this by being consistent and creating niche-relevant content that is engaging, crisp, and attention-grabbing.
You can get better results if you can incorporate storytelling in your content pieces. Those starting can follow established affiliate marketers and replicate their content format. It can be altered as you advance.
Make Your Content More Visual & Engaging
An Example- The website bestrookbox.com is an amazon affiliate site with many engaging visuals
Good-quality images always catch people’s attention. Affiliate marketers who incorporate high-definition images in their content always receive better conversions.
You can include pictures of the product you’re promoting or add any other image related to the topic you’re talking about. Relevant images paired with attention-grabbing content always give the best results, so try it out.
If you’re a beginner and don’t know how to integrate images with ad copies or other text content, follow some Amazon or eBay affiliate marketers to study and understand how they do it. You can begin by replicating their process, but it should be customized as you advance.
Create Short URLs for Affiliate Products
Affiliate marketers should always use link-shortening services to make their work easier. Original links to affiliate offers are long and may look like spam to most. Always post shortened URLs online if you don’t want the URL structure and length to hinder your affiliate sales.
Whether you use Facebook, LinkedIn, Instagram, Twitter, or any other social platform, attach links with your content that look short, neat, and professional. Bitly, Rebrandly, TinyURL, and Shor.io are some link-shortening services you can consider.
Promote Quality Offers
If you’re serious about earning from affiliate marketing, you should focus on finding and promoting offers or products that are highly relevant to your target audience. Selling junk products can get you sales in the short run, but it won’t be sustainable.
To become a good affiliate marketer, you should always search for quality affiliate offers that can sell like hotcakes on social media. You should never accept any random affiliate offer coming your way as a beginner, as it can affect your long-term goals.
Use Social Media Tools
Affiliate marketing can be arduous if you don’t have the right tools for the trade. For example, you may fail to come up with interesting content ideas for your social media profiles if you don’t have access to tools like Buzzsumo.
BuzzSumo Website
Capturing emails of people interested in your promoted offers can be challenging if you don’t have a good email capturer like OptinMonster. The market offers different tools to solve your affiliate market problems. This method can help you improve affiliate sales indirectly.
You just need to identify what you need and invest in those tools. For starters, you may consider getting click funnels or Unbounce landing page builders to hosting your offers. A chatbot like Mobilemonkey to actively engage with the audience and generate leads, bitly to shorten affiliate links, and email marketing software like convertkit to build your email list and promote your offers.
Social media provides ample opportunities for affiliate marketers to build a loyal audience and earn from it. But only a few manage to leverage it correctly. Whether you’ve just started your affiliate journey or are finding it challenging to make affiliate sales, following the methods discussed above will bring noticeable results.
Social Media Has Opened Floodgates of Opportunities for Affiliate Marketers
Promoting and selling products to a target audience online is not as simple as it seems. You will have to put in consistent efforts, give time, and invest in the right resources to start making serious income from affiliate marketing.
However, if you have little investment but can dedicate time to shaping your career as an affiliate marketer, social media platforms can help you greatly. These social media platforms have billions of people, so finding the right audience for your affiliate programs is no longer a challenge.
The above graph shows the daily active user count of multiple social media platforms as per the data showed by Google
But how you will attract your target audience, initiate a conversation, and make sales is what matters the most. There can be endless ways to use social media to your advantage, but you will have to start with a few proven methods.
To help make your journey easier, we’ve covered some practical and timeless ways to help you get started. Follow all the techniques for at least a few months to know what works best for you. With time, you will gain clarity, and you can also start experimenting with newer ways to close sales on social media.
Social media is not restricted to one use, instead, it has many potential ways to help in different tasks like lead generation, affiliate marketing, etc. Use social media for affiliate marketing, there are multiple ways one can prefer to take help form.
A complete guide on how to use social media platforms for affiliate marketing is given above with the addition of tool names where required. The guide also contains few examples of the methods and some basic tips over them.
FAQs
Which social media platform is best for affiliate marketing?
The universal social media platform that is almost used by everyone is Facebook. Hence, Facebook is considered the best option to choose for affiliate marketing.
Does Instagram allow affiliate marketing?
Yes, Instagram does allow affiliate marketing for the users with the only condition of being compatible with their terms and conditions.
What should a beginner do in affiliate marketing?
Being a beginner in the field of affiliate marketing one needs to start by considering the platform for the affiliate marketing followed by selecting a particular niche you might be interested in. The next step involves searching for better affiliate marketing options in your niche that you can, later on, add with quality content on your selected platforms.
How do I promote my affiliate link on social media platforms?
One can promote their affiliate link on social media platforms in multiple ways. Some of them are selecting the most popular social media platform in order to join the niche-related community, taking help from social media influencers or becoming one by self, keeping up with the available resources and quality-based offers, etc.
In a company, one of the most significant factors is the employees. Without them, one cannot even imagine running a company, no matter how small the business is. Your employees are the main assets of your company. However in 2022, we are seeing, some major, popular companies laying off their employees. Some of these layoffs have stunned the world of business as they are even reaching thousands of employees at once.
The reason for the layoffs varies, from cost-cutting to bad performance to financial difficulties. Some of the companies even faced criticism for their sudden decision. Many people lost their jobs during the pandemic and now these strings of similar layoffs are creating a ruckus in the world. The economic situation of the world is also a big reason for these layoffs. According to reports over 8000 people alone in just the first half of 2022 have been laid off by their companies.
In this article, we will talk about those companies who have laid off their employees and their reason for doing that. Furthermore, we will also talk about the companies that have the possibility to follow the path of laying off their employees. So, without any further ado, let’s get started.
“Your employees come first. And if you treat your employees right, guess what? Your customers come back, and that makes your shareholders happy. Start with employees and the rest follows from that.” -Herb Kelleher
Founder – Bill Hewlett, David Packard Founded – 1939 Laid Off – Up to 6,000 Employees (by 2025)
HP – Top Companies Laying off Its Employees
The American multinational IT Company, HP has joined the list of top tech companies laying off its employees. HP will lay off 4,000 to 6,000 employees, which is around 10% of its current global workforce of 61,000, over the next three years as a part of its cost-cutting efforts.
The company will also reduce its real estate footprint along with the layoffs. HP’s ‘Future Ready Transformation’ plan is expected to save the company as much as $1.4 billion annually by the end of 2025. It expects the restructuring and other activities to cost around $1 billion.
India’s prominent food delivery startup, Zomato, is reportedly planning to lay off its employees on account of its cost-cutting efforts to become profitable. Zomato is going to lay off about 3-4% of its workforce, which currently consists of nearly 3,800 employees. Around 100 Zomato employees have already been affected in the product, technology, catalogue, and marketing areas. Zomato has called it a “regular performance-based churn.” Earlier, Zomato laid off around 520 employees (13% of its workforce) in May 2020 as a result of the business downturn caused by the pandemic.
Amazon
Founder – Jeff Bezos Founded – 1994 Laid Off – 10,000 Employees (November 2022)
Amazon – Top Companies Laying off Its Employees
Amazon has also joined the bandwagon of layoffs and is reportedly laying off 10,000 employees in corporate and technology jobs. The company’s layoffs will be focused on its device business, including its Alexa products, and its retail and human resources divisions. The layoffs represent less than 1% of Amazon’s global workforce of more than 1.5 million. It is the biggest job cut that Amazon has ever made in its history.
Meta
Founder – Mark Zuckerberg, Andrew McCollum, Chris Hughes, Dustin Moskovitz, Eduardo Saverin Founded – 2004 Laid Off – 11,000 Employees (November 2022)
Meta – Top Companies Laying off Its Employees
On November 9, 2022, Meta, the parent company of Facebook, Instagram, and WhatsApp, announced that it is laying off more than 11,000 employees, accounting for nearly 13% of its workforce. It is one of the biggest tech layoffs of 2022. According to Meta’s CEO, Mark Zuckerberg, the reasons behind the company’s mass layoffs include the macroeconomic downturn, increased competition, and diminishing ad revenues, which caused Meta’s revenue to be lower than what he had expected.
Meta also plans to cut down its discretionary expenses and continue the hiring freeze through the first quarter of 2023.
Twitter
Founder – Jack Dorsey, Biz Stone, Evan Williams, Noah Glass Founded – 2006
Twitter Recent Layoffs
November 2022
3,700 employees
July 2022
100 employees
Twitter – Top Companies Laying off Its Employees
Twitter is an American communications company founded by Jack Dorsey, Biz Stone, Evan Williams, and Noah Glass on March 21, 2006. Currently headquartered in San Francisco, California, United States, Twitter is one of the biggest social media platforms that has been all over the news in relation to one of the biggest acquisitions in modern times ($44 billion), led by billionaire techie, Elon Musk. Twitter laid off 30% of its staff (nearly 100 employees) from the recruiting team in July 2022.
On November 4, 2022, Twitter laid off about 3,700 employees, accounting for nearly 50% of its global workforce, including 90% of employees in India, as a way to cut costs following the company’s acquisition by Musk, which closed on October 27, 2022.
Founder – Amod Malviya, Vaibhav Gupta, Sujeet Kumar Year – 2016 Laid Off – 350 Employees (November 2022)
Udaan – Top Companies Laying off Its Employees
Udaan, a B2B eCommerce platform and a proud unicorn startup in India has joined the list of top companies laying off its employees. The startup laid off about 350 full-time employees in November 2022 in order to attain profitability and better efficiency. However, this is not the first time that the startup has laid off its employees. Earlier in June 2022, it laid off 180 employees as a part of its cost-cutting initiatives. The second round of its layoffs this year comes only a week after the startup raised $120 million through convertible notes and debt.
Coinbase
Founder – Brian Armstrong and Fred Ehrsam Founded – 2012
Coinbase Recent Layoffs
November 2022
60
June 2022
1,100
Coinbase – Top Companies Laying off Its Employees
Coinbase is an online platform from which you can buy and sell cryptocurrency. The employees of the company work remotely and it doesn’t have any headquarters. It is considered the biggest crypto exchange platform. On a very shocking note, the company laid off around 1,100 of its employees which amounts to almost 18% of its workforce in June 2022. According to the company, the decision has been taken to control and manage the expenses of the company with the ongoing situation in the market.
Coinbase laid off another 60 employees from its recruiting and institutional onboarding departments in November 2022.
Unacademy
Founder – Gaurav Munjal, Hemesh Singh, Roman Saini Founded – 2015
Unacademy Recent Layoffs
November 2022
350 employees
June 2022
150 employees
Unacademy – Top Companies Laying off Its Employees
One of the biggest EdTech companies in India shocked everyone this year when they decided to lay off around 600 employees. It was a sudden decision in the month of April. The reasons for this layoff were said to be that the performances of the employees were not good enough.
After that, the edtech giant laid off 150 employees in June 2022. On November 7, 2022, Unacademy conducted another round of layoffs and laid off around 350 employees, accounting for nearly 10% of its workforce of 3,500, as the company tries to cut its expenses and generate a profit.
Microsoft
Founder – Bill Gates, Paul Allen Founded – 1975
Microsoft Recent Layoffs
October 2022
1,000 employees
August 2022
200 employees
July 2022
1,800 employees
Microsoft – Top Companies Laying off Its Employees
Microsoft Corporation or Microsoft was founded by Bill Gates and Paul Allen on April 4, 1975. Microsoft is an American multinational technology corporation that is unarguably one of the biggest tech companies in the world today. However, after the company announced that it would be laying off as part of a “realignment”, Microsoft also joined the list of big companies laying off their employees. Besides, it is also important to note that Microsoft became the first tech giant to lay off employees.
Microsoft laid off 1,800 employees in July 2022, and a month later, it laid off another 200 employees. In October 2022, it laid off around 1,000 employees, marking the third round of layoffs in the same year.
BYJU’S
Founder – Byju Raveendran, Divya Gokulnath Founded – 2011 Laid Off – 2,500 (October 2022)
BYJU’S – Top Companies Laying off Its Employees
In October 2022, the biggest Edtech in India, BYJU’S took a drastic decision and announced that it will lay off 2,500 employees or 5% of its workforce. The unicorn, even after reaching a valuation of around $22 billion, decided to sack its employees. The startup’s co-founder and CEO blamed macroeconomic conditions and the startup’s plans to achieve profitability by the end of the current financial year as the reasons behind mass layoffs.
Noom
Founder – Saeju Jeong, Artem Petakov Founded – 2008
Noom Recent Layoffs
October 2022
500 employees
April 2022
500 employees
Noom – Top Companies Laying off Its Employees
Noom is a wellness app that deals with tracking the weight of a person and also focuses on mental health. The company in the month of April announced the dismissal of 500 employees. The layoff is done because of the sole reason for changing the coaching model. The strategy of coaching has been changed, and the employees were dismissed for the betterment of the business. In October 2022, Noom laid off about 500 employees, accounting for nearly 10% of its total staff.
Clear
Founder – Ankit Solanki, Archit Gupta, Srivatsan Chari Founded – 2011 Laid Off – 190 to 200 Employees (September 2022)
Clear – Top Companies Laying off Its Employees
India’s leading Fintech SaaS startup, Clear (formerly Cleartax) is another prominent name that has joined the list of companies laying off their employees in 2022. The Bengaluru-based startup laid off 190 to 200 employees across different departments on September 15, 2022. This number amounts to nearly 20% of the company’s workforce. The layoffs are said to be a part of the company’s restructuring efforts to increase its cash flow.
Rupeek
Founder – Sumit Maniyar Founded – 2015
Rupeek Recent Layoffs
September 2022
50
June 2022
180-200
Rupeek – Top Companies Laying Off Its Employees
Rupeek is a digital gold loan provider company whose headquarters is situated in Bengaluru, India. It is present in over 35 cities. The company laid off about 180-200 of its employees which is 10-15% of its workforce in June 2022. The layoff has been done from different departments and teams. Rupeek gave the reason for cost-cutting for firing its employees, the company is looking forward to making its structure leaner and more compatible. In September 2022, Rupeek once again laid off around 50 employees across different departments as part of its strategy to become profitable in the next 12-18 months.
Meesho
Founder – Sanjeev Barnwal, Vidit Aatrey Founded – 2015
Meesho Recent Layoffs
August 2022
300 employees
April 2022
150 employees
Meesho – Top Companies Laying off Its Employees
Meesho, in a sudden and surprising move, fired 150 employees of the company from their grocery business in the month of April. The popular reselling startup in India had its grocery business called Farmiso, which has now been renamed Meesho Superstore. The company is in discussion to merge the grocery store with its main app. The reorganization of the store is said to be the reason for the layoffs. This is also based on their performance in the business till now and their efficiency in adapting themselves to the new form of Meesho Superstore.
A few months later, in August 2022, Meesho laid off more than 300 employees after shutting down its grocery business in India, Superstore.
Better.Com
Founder – Eric Wilson, Erik Bernhardsson, Shawn Low, Viral Shah, Vishal Garg Founded – 2016
Better.com Recent Layoffs
August 2022
250 employees
April 2022
1,000 employees
March 2022
2,000 employees
December 2021
900 employees
Probably the most controversial layoff that has been done is by Better.com. The company was facing the heat since last year when it fired over 900 of its employees over a single Zoom call in December 2021. In March 2022, it laid off 2,000 employees and about 1,000 employees were fired in April 2022. In this year only, they have laid off almost 3000 of their employees. As per the company, the reason for the layoff is based on the performance of the employees. They have stated that the employees are fired because of their lack of productivity and their inefficiency in work. Since December 2021, the company has fired almost 50% of its workforce.
In August 2022, Better.com conducted yet another round of layoffs, by firing about 250 employees.
Ford
Founder – Henry Ford Founded – 1903
Ford Recent Layoffs
August 2022
3,000 employees
April 2022
580 employees
Ford – Top Companies Laying off Its Employees
The American multinational automobile manufacturer Ford, in the month of April, announced that they are laying off 580 of its US employees. This decision comes right after when the company announced that it will restructure the company and will focus on the making of electric vehicles. The dismissal is mainly done by the engineering department as the making of electric vehicles required different skill sets. Therefore, as per the company, it is done for the future needs of the company.
In August 2022, Ford confirmed laying off around 3,000 employees and contract workers. The job cuts are effective September 1, a spokesman said. The reason behind the layoffs is said to be the change in operations and redeployment of resources as the company plans to embrace new technologies that were not previously core to its operations, such as developing advanced software for its vehicles.
Walmart
Founder – Samuel Moore Walton Founded – 1962 Laid Off – 200 Employees (August 2022)
Walmart – Top Companies Laying off Its Employees
Walmart Inc., the popular American retail multinational corporation disclosed that it would be cutting the job roles of hundreds of corporate employees. In its Bentonville, Arkansas, headquarters, Walmart reported on August 3, 2022, that it would have to part with nearly 200 of its employees. The departments that would have to bear the brunt are numerous, including merchandising, real estate, and global technology, among others.
Robinhood
Founder – Vladimir Tenev, Baiju Bhatt Founded – 2013
Robinhood Recent Layoffs
August 2022
700+
April 2022
300+
Robinhood – Top Companies Laying off Its Employees
Consumer investing and trading service company, Robinhood before announcing its financial performance in the first quarter of 2022 announced that they are going to lay off 9% of its employees that is more than 300 of its employees in April 2022. All these employees were their permanent employees. The company went public last year in 2021 but they face a decline in trading, as per reports, this is said to be the main reason for the dismissal. In August 2022, the company again laid off about 23% of its workforce which might account for more than 700 employees. The Financial Times estimated the number of employees impacted to be nearly 780.
Yes, another popular Edtech startup, Vedantu has laid a good number of employees. Vedantu laid off 424 employees both full-time and contractual, in May 2022. Before that, it laid off 200 of its employees in the same month. The reason for this is to increase their Capital runway as per Vedantu. Apart from that, the reopening of schools and classes being conducted offline, are also said to be the reason for the layoffs of the Edtechs. Vedantu again laid off 100 employees across departments, in July 2022. This was done due to the business restructuring procedure that Vedantu is planning.
BlueStacks
Founder – Rosen Sharma, Jay Vaishnav, Suman Saraf Founded – 2011 Laid Off – 120 to 150 Employees (July 2022)
BlueStacks – Top Companies Laying off Its Employees
BlueStacks was founded by Rosen Sharma, Jay Vaishnav, and Suman Saraf in 2011. Headquartered in Campbell, California, United States, BlueStacks is known as the 2nd largest PC gaming platform in the world that aims to bring PC gamers and the Android gaming library. The pouring demand for Android smartphones has helped the company witness humongous growth throughout the year. This popular Android emulator platform has laid off 60 Indian employees, as per reports dated July 20, 2022. BlueStacks reportedly informed a majority of the employees via video calls on July 18, 2022, that their services would not be needed anymore.
Along with India, the company has also cut down its workforce in many other countries as well, from its offices in London, Tokyo, Seoul, and Beijing. The total count of layoffs might be as high as 150 employees as well, ranging between 120-150, according to the reports. The reason behind the layoffs is internal restructuring. BlueStacks has offered 1 month of salary as severance pay to the laid-off employees along with medical benefits, as mentioned by sources.
TikTok
Founder – Zhang Yiming Founded – 2016 Laid Off – 100 Employees (July 2022)
TikTok – Top Companies Laying off Its Employees
TikTok is a short-form video hosting service platform that is owned by the Chinese company ByteDance. TikTok has achieved sensational growth in India and across the world for its viral, short-form content, which even resulted in several countries complaining and banning TikTok. The platform is still growing with 8 new users joining TikTok each second. It has over 1 billion monthly active users, as of July 2022.
The popular, controversial ByteDance subsidiary TikTok has reportedly started reducing its workforce by laying off staff working in the EU, EK, and the US. These layoffs, according to Wired and some other news and media networks might affect around 100 TikTok employees, which currently work with a workforce of around 10,000 employees across the US and Europe. The TikTok layoffs are in line with the global restructuring initiatives of the company.
Netflix
Founder – Marc Randolph, Reed Hastings Founded – 1997
Netflix Recent Layoffs
June 2022
300 employees
May 2022
150 employees
Netflix – Top Companies Laying off Its Employees
The biggest streaming platform, in a surprising turn of events, announced that it was going to lay off 150 of its employees across the company in May 2022. Although it was not a huge number, it still became the talk of the town. Some of Netflix’s sudden decisions led to its slower growth of revenue, which was said to be the prime reason for laying off 150 employees. According to Netflix, it was basically done to cut costs at the streaming giant. Netflix recently lost over 2 lakh subscribers and is expected to lose more; this is one of the reasons for its slower revenue growth. In the month of June 2022, Netflix again laid off 300 of its employees, and again the reason was cost cutting.
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Founder – Elon Musk, Martin Eberhard and Marc Tarpenning Founded – 2003 Laid Off – 200 (June 2022)
Tesla – Top Companies Laying off Its Employees
Tesla which was working on its Autopilot advanced driver assistance features has faced a sudden shock. In an unexpected turn of events, Tesla laid off around 200 employees who were working on the autopilot feature in June 2022. This decision comes after Elon Musk asked the company to decrease the headcount by 10%.
CityMall
Founder – Angad Kikla and Naisheel Vardhan Founded – 2019 Laid Off – 191 (June 2022)
CityMall – Top Companies Laying off Its Employees
The three-year-old Ecommerce startup CityMall stuns everyone when it announced the layoff of 191 of its employees in June 2022. The Gurugram-based startup even after raising $75 million, added its name to the list of startups that have laid off their employees in the year 2022. The reason for this layoff as stated by the company is the structural changes that are taking place in the system.
Cars24
Founder – Gajendra Jangid, Mehul Agrawal, Ruchit Agarwal, Vikram Chopra Founded – 2015 Laid Off – 600 Employees (May 2022)
Cars24 – Top Companies Laying off Its Employees
Cars24 said goodbye to over 600 employees of the company, which is 6% of their workforce. The fired people include employees from different departments and roles. The company has not provided any special reason for the layoff and has only stated that it is based on the performance of the employees. Every year employees are laid off if they are not providing their very best. Cars24 decision of firing its employees comes at a time when the company is looking to expand itself globally.
Klarna
Founder – Sebastian Siemiatkowski, Niklas Adalberth Founded – 2005 Laid Off – 700 (May 2022)
Klarna – Top Companies Laying off Its Employees
Klarna is a Swedish fintech company that deals with online financial services. In a pre-recorded video the CEO of the company forwarded the news to the employees that the company will lay off 10% of the global workforce. Almost 700 employees were affected by this decision in May 2022. The CEO said that the Ukraine-Russia war and a likely recession are the reason behind this drastic step.
In September 2022, the company disclosed over a video meeting that it is planning another round of layoffs in an attempt to “reflect” its new and “more focused nature.” According to Klarna, the new round of layoffs will affect less than 100 employees, globally.
MFine
Founder – Prasad Kompalli, Ashutosh Lawania Founded – 2017 Laid Off – 500 (May 2022)
MFine – Top Companies Laying off Its Employees
MFine is a digital health platform based in Bengaluru that provides services like doctor consultations, diagnostic tests and others. The health platform’s sudden turn of events laid off almost 500 employees of the company in May 2022. It is almost 50% of their workforce. The company hired employees even in the month of April but after the struggle to raise funds started increasing, it decided to lay off its employees.
Blinkit
Founder – Albinder Dhindsa Founded – 2013 Laid Off – 1,600 approx (March 2022)
Blinkit – Top Companies Laying off Its Employees
Blinkit, previously known as Grofers is an online grocery shopping platform, recent in the month of March it laid off some of its employees. It is said to be 5% of their workforce which is about 1,600. The layoff has been done in mostly three cities, Hyderabad, Kolkata and Mumbai. The company has spent almost INR 600 Crores to focus on their 10 minutes delivery offering. Apart from laying off their employees, the online grocery platform is also delaying the payments of the vendors. The main reason for the layoff is said to be cost-cutting.
Trell
Founder – Agrawal, Sachan, Arun Lodhi, Bimal Kartheek Rebba Founded – 2016 Laid Off – 300 (March 2022)
Trell – Top Companies Laying off Its Employees
Nothing seems to be going right for the Social commerce startup Trell. Amidst its investigation of its alleged financial irregularities, it is said to have decided to fire 300 of its employees almost 50% of its workforce. The situation that has led to this decision is mainly the investigation that is going on by EY India. However, the company gave out the reason for restructuring and strengthening the company for the layoff. The roles that are not needed are cut off from the company.
Furlenco
Founder – Ajith Karimpana Founded – 2012 Laid Off – 180 (March 2022)
Furlenco – Top Companies Laying off Its Employees
Furlenco is a startup that provides rented furniture to its customers. The company is said to lay off about 180-200 of its employees. It is also reported that the startup has stopped all their operation in the cities like Kolkata, Jaipur, Chandigarh and Mysuru. The company has given restructuring as the main reason for the firing of their employees, the staffs mostly belong to the customer support and grievance management departments.
OkCredit
Founder – Gaurav Kumar, Aditya Prasad, Harsh Pokharna Founded – 2017 Laid Off – 40 (February 2022)
OkCredit – Top Companies Laying off Its Employees
OkCredit is a digital ledger company and on a shocking front, the company laid off around 40 of its employees in the month of February 2022. The organisation said that the reason for the sudden decision was because of the company’s changes in their priority. This has led to the restructuring of the company and the roles of the employees in the company which has led to the dismissal of several employees from the company.
Lido Learning
Founder – Sahil Sheth Founded – 2019 Laid Off – 150+ Employees (February 2022)
Lido Learning – Top Companies Laying off Its Employees
The employees of Lido Learning faced a shocking and terrible situation when about 150 to 200 of them were laid off in the month of February 2022. Lido Learning has been backed by some of the most prominent investors like Anupam Mittal and Mukesh Bansal. The company also raised over $10 million in the month of September 2021. Lido Learning founder Sahil Sheth informed the employees that because of facing some financial difficulties, the company wouldn’t be able to pay their salaries. Apart from that, some employees were asked to look for other jobs.
Unilever
Founder – Antonius Johannes Jurgens, Samuel van den Bergh, Georg Schicht Founded – 1929 Laid Off – 1,500 Employees (January 2022)
Unilever – Top Companies Laying off Its Employees
Unilever, the consumer goods multinational company revealed its plan to cut 1,500 jobs from the company in January 2022. This will be valid worldwide, the decision comes after its failure to buy the consumer health division of GlaxoSmithKline. Unilever has decided to opt for a more competitive operating model and reorganize the company for its growth and to be more responsive to consumer trends.
DiDi
Founder – Cheng Wei, Zhang Bo, Wu Rui Founded – 2012 Laid Off – 3000 (February 2022)
DiDi – Top Companies Laying off Its Employees
Chinese Ridesharing service DiDi decided to lay off 20% of its workforce in the month of February. Approximately 3,000 employees lost their jobs because of this decision. The reason for this decision is said to be the regulatory pressure that the company faced since an investigation was launched against the company last year. With its shares facing a huge decline and the company suffering a loss, the decision was taken to analyse the whole matter.
Royal Mail
Founder – Henry VIII Founded – 1516 Laid Off – 700 (January 2022)
Royal Mail – Top Companies Laying off Its Employees
The postal company of Britain, Royal Mail has been present for centuries. The company in January 2022 decided to cut off 700 employees of theirs. This decision comes after the company faced problems because of Covid, which has led to delays in deliveries. The performance of the postal company was criticised, therefore to bring change and restructure the company, they decided to fire their 700 employees.
In October 2022, the company announced that it is planning to cut down its workforce by around 10,000 by August 2023. Royal Mail attributes this decision to ongoing strikes and rising losses at the company.
Nestlé
Founder – Henri Nestlé Founded – 1866 Laid Off – 104 (March 2022)
Nestle Logo
Nestlé is a Swiss multinational food and drink conglomerate. In a sudden decision, the food processing giant has decided to close down its Sweet Earth food facility that is in California. This has led to the laying off of 104 employees in March 2022. The decision comes after, the plant-based meat company was seen to have negative growth and experience losses. Nestle acquired Sweet Earth Food Facility in 2017, it sells plant-based meat food items.
Tesco
Founder – Jack Cohen Founded – 1919 Laid Off – 1600 (February 2022)
Tesco Logo
Tesco is the biggest supermarket chain in Britain, now the supermarket chain is looking for a major overnight transformation. They are mostly shutting down the meat and fish counters of 300 stores because of low demand. This decision may lead to the layoff of 1600 employees of Tesco. The job cuts are followed as the supermarket chain is on the verge of reorganising itself.
Cineplex
Founder – Ellis Jacob, Garth Drabinsky, Gerald W. Schwartz Founded – 1999 Laid Off – 5000 (January 2022)
Cineplex Logo
Cineplex is a movie theatre chain in Canada. The pandemic situation has created many problems throughout the world, the theatre chain also faced a problem due to this. The company in the month of January announced that it was temporarily laying off 5000 employees of their as theatres are shutting down in Ontario. This decision comes after the surge of the Omicron variant of Corona in the country. However, the layoff is said to be a temporary one.
Primark
Founder – Arthur Ryan Founded – 1969 Laid Off – 400 (January 2022)
Primark Logo
The UK-based multinational fashion retailer Primark has decided to cut off 400 employees of theirs in the month of January. As per reports, the decision was taken to simplify the management structure. As the omicron variant surged and the inflation seems to get serious, the sales of Primark were hit. Now to restructure the company, the layoff was needed.
Conde Nast
Founder – Condé Nast Founded – 1909 Laid Off – 90% of the Workforce
Conde Nast Logo
Conde Nast is one of the biggest global media companies, home to some iconic brands like Vogue, GQ and Vanity Fair. On a quite shocking front, the Magazine giant announced that they will lay off 90% of employees in Russia and will halt the distribution of Vogue Russia and other publications of theirs. The biggest reason for this decision was said to be the Ukraine invasion by Russia. The company has cut off its term permanently with Conde Nast Russia.
Common Reasons for the Layoffs
Big companies and organisations are facing problems and many of them are laying off their employees in response to that. There are multiple reasons, varying from company to company. Some of the common reasons for the layoff are:
Companies are not able to adapt to the situations after the lockdown and pandemic.
Inflation is on the rise again.
Companies facing financial difficulties.
The slowdown of funding in the business world.
The Ukraine invasion by Russia has led many companies to stop doing business with the latter.
The inefficiency of employees.
Restructure and modernisation of a company.
Companies That Have to Freeze Their Hiring
With the economy of the world facing jeopardy and several other reasons, a number of companies have frozen their hiring and they are:
Meta has frozen their hiring and it is said to be lasting through the first quarter of 2023. The main reasons, the company has given are the industry-wide downturn and privacy data changes.
In May 2022, Wayfair froze their hiring for 90 days and again the reason is the situation with the economy of the world.
Twitter freezes their hiring and many of its top employees are getting fired, the sole reason is the ownership change of the company, as it now belongs to Elon Musk.
Google is another company that has slowed down its hiring, though it has not frozen its recruitment yet, as mentioned by Google CEO Sundar Pichai, in the first week of July 2022.
Conclusion
Various companies are taking the step of firing their employees as mentioned above the reason varies from economic conditions to the pandemic to the restructuring of the company, and even the inefficiency of the employees. Apart from all these, there also seems to be a slowdown in funding and pressure by investors to make the company more and more profitable. With the current global economic situation, it seems like the worst is yet to come.
FAQs
What is a layoff?
A layoff simply refers to the termination of an employee of a company. It occurs due to business-related reasons and not because of the employee’s fault. A company may lay off a single employee or multiple employees at the same time.
Why Companies are laying off their employees?
Companies are firing employees for various reasons that vary from economic conditions to the pandemic to the restructuring of the company, and even the inefficiency of the employees.
Which Indian startups are laying off their employees?
Many Indian startups are laying off their employees in 2022, including Udaan, Unacademy, BYJU’S, Vedantu, Meesho, Cars24, Clear, Lido Learning, and more.
Is Meta laying off its employees?
On November 9, 2022, Meta, the parent company of Facebook, Instagram, and WhatsApp, announced that it is laying off more than 11,000 employees, accounting for nearly 13% of its workforce.
How many Twitter employees were laid off?
On November 4, 2022, Twitter laid off about 3,700 employees, accounting for nearly 50% of its global workforce, including 90% of employees in India, following the company’s acquisition by Elon Musk.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Twitter.
Updating the status of the current scenario is one of the leading trends followed by today’s generation. The same trend allows people to describe their days, habits, thoughts, and any important message on a larger scale with the help of social media. There are multiple social media platforms available on the web to take the habit on. One amongst them is a bluebird icon platform called Twitter.
Twitter is a microblogging platform along with a place where people can easily interact and share their thoughts in the form of tweets. Initially, it was invented with the thought of sending an SMS to a group of people. Now Twitter stands at the rank of 16th position in the category of most popular social networking sites globally.
Twitter was set to be acquired by Elon Musk, according to the news dated April 26, 2022. He had previously announced a deal worth $44 billion to acquire a majority of Twitter’s stake and make it private. This had valued each share of Twitter at $54.20, at which Musk valued them. However, later, the deal, which was said to be on hold, had actually been pulled by Elon Musk, and the Twitter team was all set to sue him. Twitter actually sued Elon Musk, as per reports dated July 13, 2022, on Delaware’s Court of Chancery. The social media giant reportedly accused Musk of “hypocrisy” in court on July 12, 2022. The judgement that was pending from the Court of Chancery was ruled in favour of Twitter, who was then asked to force the completion of the deal.
After an almost seven-month-long saga of various business and legal conflicts, finally, on October 27, 2022, Elon Musk completed his acquisition of Twitter and appointed himself as the new CEO of the company.
The journey covered by Twitter from its start till now is commendable. This article highlights all essential aspects of Twitter such as its business model, revenue model, competitors, funding, and more in the form of the Twitter success story.
Twitter is an America-based microblogging platform founded in the year 2006 by Jack Dorsey, Biz Stone, Evan Williams, and Noah Glass. Twitter has evolved as a social media platform cum microblogging platform giving out information on a range of topics.
People can easily interact with each other based on their interests and can also tweet on the platform to share their thoughts with a larger audience. Twitter was founded by a failed podcasts producing company named Odeo. Earlier it was termed as Twttr and then changed to the name, which is currently written as Twitter.
Twitter has more than twenty-five offices across the world. Tweets used to be originally restricted to 140 words, but in November 2017, the maximum for non-CJK languages was lifted to 280 words. Video and audio tweets are still limited to 140 secs over most profiles.
Both, as a sender and a receiver, Twitter is easy to use. You may easily join this platform with a free basic account and a Twitter handle or unique username. Then, on a daily, hourly, or as-needed basis, you may send out broadcasts, often known as “tweets.”
In the “What’s Happening” box beneath your profile picture, input 280 words or less, then click the Tweet button to post your tweet. Those who follow you and maybe those who do not will see your tweet if your account is public.
You can follow anyone, including celebrities and your favourite influencers, by selecting follow button on their profile to subscribe to their tweets on Twitter. You can simply unfollow them if their tweets aren’t as entertaining as you thought. Visit Twitter.com at any time of day or night to see your Twitter feed, which is updated as people tweet. Look at what’s trending to see what’s going on around the globe. That’s all there is to Twitter.
Twitter – Industry
Twitter belongs to the largest growing industry, the internet. The internet industry deals with the integration and linking of big data, analytical tools, and a wireless network. The industry is leading the way for a big change in the future due to more and more usage of internet-based platforms.
It provides a way for multiple activities to take place without the need for physical appearance. Some of the popular day-to-day activities seen by the internet industry are microblogging, social media, advertising, etc. The future of the Industry can be assumed as bigger, faster, and safer internet growth.
A social networking site is an online platform that allows users to develop social networks or connections with others who have similar professional or personal hobbies, interests, experiences, or legitimate connections. Social media is currently used by more than half of the world’s population (58.4%).
Around the world, 4.62 billion individuals use social media, with 424 million new users joining in 2021. Every day, people spend an average of 2 hours and 27 minutes on social networking sites. The emergence of social media has been fueled by the human tendency to connect, as well as advances in digitalization. It’s a story about large-scale personal friendships being formed and nurtured.
The market size of social media is growing exponentially with the estimated calculation for the US market size in 2022 to be $72.2 billion. Total growth of 15.6% is noted in the US for the social media market. As for the future, according to a report published by statista.com, over 4.41 billion users are expected to use social media by the year 2025.
Microblogging stands for the combination of instant messaging combined with content production. It differs from the natural blogging industry of the limited size of the content delivery. Microblogs include content with specific data ranges. They can be in the form of short videos, audio, or simple texts. The microblogging industry is not up to mark and is in a constantly evolving stage. It is emerging as one of the fastest-growing industries.
Twitter – Founders and Team
Twitter was not founded by a single person or by the efforts of one person. It took a whole group of four people to get together and launch a microblogging platform.
Jack Dorsey
Jack Dorsey – Co-Founder of Twitter
Jack Patrick Dorsey born on November 19, 1976, and a native of the United States was the former CEO of Twitter. He was born and brought up in St. Louis, Missouri, where he went to complete his schooling too. He started programming while being a student only due to his unavoidable interest in programming and computer communication.
He completed his schooling at Bishop DuBourg High School. He was more than interested in the logistics and their working methods. At the age of 15, Jack Dorsey created a dispatch software that was still in use by many taxicab companies for a longer period.
To get a degree, Jack Dorsey went to the University of Missouri. However, due to some unavoidable reason, he was transferred to the University of New York, which he dropped from six months of getting the hold of his degree.
Jack Dorsey instead went to Oakland, California, and started a company offering dispatch software by the medium of the Internet in the year 2000. While working on the dispatch software, he came up with the idea of having a platform that combines instant messaging with his dispatch software for ease.
With the same thought, Jack Dorsey approached the company named Odeo. After successful talks and some work, in 2006 Twitter was launched successfully with the first tweet done by Jack Dorsey stating “just setting up my Twitter.
In the year 2010, Jack Dorsey co-founded a small business platform that accounts for debit and credit card payments on a mobile device named Square now changed to Block. Jack Dorsey serves as the CEO of Square. In 2021, the name Square was changed to Block to show interest in Blockchain. The former CEO also stepped down from the Twitter board on May 25, 2022. It was noted that Jack Dorsey had planned to leave the board when he chose to step down from the CEO position, however, the company mentioned in a statement that Dorsey would be staying on the board “until his term expires at the 2022 meeting of stockholders.”
Noah Glass
Noah Glass – Co-founder of Twitter
The American Technology Entrepreneur Noah Glass is one of the co-founders of Twitter. He was the co-founder of a failed company called Odeo.
Odeo was a podcasting company that failed after a few years of work and somehow gave rise to what we call today Twitter.
Noah Glass was known to work on multiple projects before founding a podcast company. He was known to work at Industrial Light and Magic. He left work from there to join and co-work with Marc Canter.
Marc Canter was the founder of Macromind. After that, Noah Glass developed an application named AudBlog which earned a partnership with Evan Williams. Together they created the podcasting company named Odeo.
In 2006, while working on Odeo and its failing future, the basic idea for Twitter was invented.
Noah Glass is highly acknowledged for giving the name “Twitter” to the newly developed platform with an abbreviated name “Twttr”. Noah Glass is considered a forgotten Twitter co-founder who gave a few essential core features and ideas in the development of the platform.
Biz Stone
Biz Stone – Co-founder of Twitter
Co-founder of Twitter named Christopher Isaac “Biz” Stone was born on March 10, 1974. Biz Stone completed his graduation from Wellesley High School in Wellesley, Massachusetts. He then attended Northeastern University and the University of Massachusetts Boston but without getting a degree at both place.
In the year 1999- 2001, Biz Stone was recorded to serve as a creative director at Xanga. For the year 2003-2005, Biz Stone was given the title of senior leadership at Google. In 2006, Biz Stone rolled out Twitter along with other co-founders and holds a patent to Twitter.
In the year 2014, Biz Stone launched a new search engine named Jelly. Jelly was a search engine driven by factors of visual imagery and discovery. Stone served as CEO of Jelly till the time it was acquired by Pinterest. In 2017, Biz Stone showed intention to return to Twitter.
A few Awards and Recognition of Biz Stone would include:
International Center for Journalists Innovation Award
Listed as One of the 100 Most Influential People in the World by Time
Nerd of the Year by GQ
Innovation Award by The Economist
Evan Williams
Evan Williams – Co-founder of Twitter
The fourth Co-founder of Twitter Evan Williams was born on March 31 1972 in Clarks, Nebraska. He went to attend the University of Nebraska–Lincoln for just one and a half years and left with no degree. Evan Clark Williams went out to work at different technology jobs after leaving college. He went to places like Florida, Texas, etc before returning to his family farm.
In 1996, Evan Williams went on to work at O’Reilly Media in a marketing position. Further, in the same firm, he got the promotion to work as an independent contractor writing computer code. This opportunity gave him the chance to work as a freelance coder and he took happily to work at different popular companies such as Intel and Hewlett-Packard.
While working at O’Reilly Media, Evan Williams started his website to post his thoughts. In the year 1999, Evan Williams along with Meg Hourihan co-founded an initial blogging software named Pyra Labs. In 2005, Evan Williams along with Noah Glass went on to co-found a podcast company named Odeo. In 2006, Evan Williams along with other co-founders gave rise to social media platform named Twitter. In 2012, Evan Williams led to the launch of a publishing platform named Medium.
A few Awards and Recognition for Evan Williams are:
In 2003, Evan Williams was given the recognition of MIT Technology Review TR100 as one of the top 100 innovators of the World under the age of 35.
In 2004, he received the Recognition of “People of the Year” by PC Magazine.
Twitter consists of 7000+ Tweeps (July 2022). Twitter employees are given the special tag “Tweep”. Just the way messages posted on Twitter are called tweets, the person working for Twitter is termed a Tweep. The journey that Twitter is remarkable indeed. Looking back at the initial days, Twitter only had 8 employees back in January 2008.
Here’s checking out the gradual expansion of the Twitter workforce:
Twitter is one of the successful platforms for now. However, the origin of Twitter lies in the ashes of another failed startup. The idea behind starting an instant messaging platform was taken from Jack Dorsey. And the name for the platform was given by Noah Glass.
When Jack Dorsey was pursuing his bachelor’s at NYU, he proposed the idea of a person using an SMS service to connect with a small group. The service’s initial project code name was twttr, another variant of the term twitter, an idea credited to Noah Glass and inspired by Flickr and the five-character length of American SMS shortcodes. The choice was also affected by the fact that the URL twitter.com had been in use when twttr was launched, and it took the team 6 months to acquire the site and convert the company’s name to Twitter.
The year 2007 was a watershed moment for Twitter’s evolution. During the episode, Twitter traffic increased from 20,000 to 60,000 tweets per day. Twitter began rolling out “New Twitter” in September and October 2010, a totally overhauled version of the site.
The possibility to see videos and pictures without exiting Twitter by tapping on individual tweets that contain links to photographs and videos from a wide range of supported websites such as YouTube and Flickr, as well as a total revamp of the interface that moved links such as ‘@mentions’ and ‘Retweets’ above the Twitter stream, while ‘Messages’ and ‘Log Out’ became accessible via a black bar at the top of twitter.com.
Twitter – Acquisition by Elon Musk
Elon Musk – CEO of Twitter
Elon Musk, the world’s richest man, who is a prominent global entrepreneur, declared on April 4, 2022, that he had acquired 9.1% stakes in Twitter for $2.64 billion. As a consequence, Twitter’s shares rose as high as 27%, marking the largest day rise since the firm’s Offering in the year 2013.
Elon was granted a seat on Twitter’s management board committee as part of a contract that prohibited him from owning more than 14.9% stakes in the corporation, but he refused before his participation went into effect on April 9.
On April 14, Musk made an unexpected bid to buy Twitter for $43 billion and make it private, claiming that he stood for the value of free expression for global democracy. On April 15, Twitter’s board of directors approved a tactic that would enable shareholders to buy additional shares in the case of a truculent takeover, preventing Musk’s invasion.
On April 20, Musk got $46.5 billion in a deal offer to buy Twitter. On April 25, it was reported that Twitter was preparing to approve Musk’s bid, and the board members officially authorized the deal, which became $44 bn shortly after on the same day.
Musk has stated that his first goal in promoting openness is to open-source the system that promotes tweets in the content stream. He has indicated that he intends to eliminate spambots and verify all legitimate people. However, the deal was still on hold, as per May 2022 reports. Twitter had declared that it was facing recurring challenges with spam and fake accounts soon after Elon Musk thought it fit to acquire the platform. This is what Twitter is investigating currently, where it is checking whether the existing spam/fake accounts represent less than 5% of Twitter’s users. On the other hand, Musk was still reported to be “committed to acquisition.” As per the reports dated June 9th, 2022, Elon Musk has threatened the social media giant to blow up the deal over the bot issue. Soon after this, reports mentioned that a Twitter stakeholder wanted a judge to order the microblogging site to turn over internal papers that would prove the existing spam and fake accounts on Twitter. The Twitter acquisition deal of Elon Musk worth $44 bn had been unanimously approved by the Twitter board on June 21, 2022. However, along with it, there were uncertainties about whether that will happen because Twitter share prices have dipped far below Musk’s offered price. Besides, Musk had also mentioned some unresolved issues concerning the debt and the spam and fake Twitter accounts, which he had doubted that they were not less than 5% of the monetisable daily active users.
Elon Musk had then decided to abandon the Twitter acquisition, as mentioned in reports dated July 9, 2022. Twitter, in return, then mentioned that it will sue Musk and is determined to see the deal go through, by hook or by crook. Also, by the mutual agreement between the two parties, both Musk and Twitter agreed to impose a fine on either of the parties if they chose to back out from the deal. This stood valid, in case Musk decides finally to terminate the deal. He did back out from the deal, and eventually, Twitter sued him in the Court of Chancery, Delaware. The case was presided over by Kathaleen McCormick as the chief judge, who asked to complete the deal by force, thereby standing by Twitter. Now, the deal can either be completed or pushed further. The legal battle in this colossal acquisition deal is already at its climax!
Twitter proposed that it would conduct a meeting of the shareholders on September 13, 2022, and would vote on the proposed $44 billion takeover of the social media company by billionaire Elon Musk. At this meeting, Twitter would also have shareholders vote on the approval of the compensation that Twitter would extend to some of its executive officers.
On October 3, Musk’s legal team informed Twitter that he was ready to complete his planned acquisition deal at the original price offer of $54.20 per share, a total cost of nearly $44 billion, reversing a months-long attempt to end the agreement.
On October 27, Elon Musk finally closed the deal to acquire Twitter, becoming the new owner of the social media giant. Immediately after the takeover, he fired top executives of the company, including Parag Agrawal (CEO), Ned Segal (CFO), and Vijaya Gadde (legal affairs and policy chief).
As a part of the many changes coming after the acquisition, Musk recently announced that Twitter will charge users $8 per month for a blue tick on Twitter. This decision has been criticised by many users, but Musk does not seem to have any plans to take it back.
Twitter’s mission statement says, “The mission we serve as Twitter, Inc. is to give everyone the power to create and share ideas and information instantly without barriers. Our business and revenue will always follow that mission in ways that improve – and do not detract from – a free and global conversation.”
Vision- “To be the world’s most diverse and inclusive company”.
Twitter – Name, Tagline, and Logo
Name
The initial meaning of the name Twitter means “a short burst of inconsequential information” or “chirps from birds”.
The initial thought for the name was “status”. However, after going through the Dictionary, Jack Dorsey came across the name Twitter and instantly liked its definition. As he felt, the definition of the word is what they were doing. However, the domain under the name Twitter was not available for purchase and they have to go with its abbreviated version.
After six months of launch, the domain name Twitter was purchased and the platform was renamed. The credit behind naming Twttr and Twitter goes to Noah Glass.
Tagline
Discover what’s happening right now, anywhere in the world.
Logo
Twitter Logo
The original name of the Twitter Bird is “Larry The Bird”. The bird was named after the basketball player Larry Bird. Biz Stone can be said as the major reason behind selecting the logo for Twitter. He studied at a school outside Boston and hence had the same craze for basketball players who won three NBA championships for three years from 1981-to 1986. In the year 2012, the bird was given a haircut and started resembling a mountain bird.
The current logo of Twitter consists of a blue-coloured bird on white background with no text attached to it.
Twitter – Business Model
The business model of Twitter is a platform business model. A platform business model can be defined as a business model that creates value by facilitating exchanges between two or more two people and groups of people, especially in the case of consumers and producers. The majority of social media works on the same platform.
Twitter has the same working pattern as other social media platforms. The user needs to register with a username and password for the use of Twitter. Unregistered users can also use Twitter but only to read tweets. Only registered users are allowed to tweet on its platform. A registered user can share text with 280 characters or a video of 140 seconds with a size ranging not more than 1 GB.
Twitter allows its users multiple benefits such as the user can make their thoughts reach a global audience. The advertisement done on it can also reach a large audience. The data partners can easily search and navigate information from Twitter to create insights.
Twitter currently generates revenue primarily through ad campaigns and data licensing. Twitter is continuing to expand its current income streams while also experimenting with new potential revenue streams from users and companies. The firm believes that its revenue channels may continue to develop at a quick pace, and it plans to double its revenues in 2022.
Twitter’s business model is created in a way that allows advantages to its users, advertisers, and data partners.
Twitter – Revenue Model
Twitter Revenue Worldwide from 2010 to 2021
The annual revenue of Twitter for FY2021 was noted to be $5.77 billion. There was a whopping increment of 36.63% in revenue from the year 2020.
The Twitter revenue model helps the social media giant generate revenue in two ways –
Data licensing accounts for around 14% of Twitter’s income. In 2020, this will account for around $509 million, up from 9.2% in 2019. Subscriptions to public data are sold to organisations and developers under this income stream. The information gives both historic and current insights into user demographics and platform trends.
The majority of Twitter’s revenue comes from advertising. Advertising accounts for over 86% of the company’s revenue. Promoted Ads, Follower Ads, and Trend Takeovers are examples of advertising. On the stream, all adverts are always labelled “Promoted.” Advertisers buy Promoted Ads to get their product or service in front of a larger audience of Twitter users. Follower Ads propose new Twitter accounts for you to follow based on your interests, so you’ll see Promoted Ads from people you follow. Trend Takeovers place advertisements next to trending issues to generate views based on what is most trendy and interesting on Twitter. The cost of Twitter advertisements varies. A sponsored tweet might cost somewhere between $0.50 and $2 for every action, while a promoted account can cost anywhere between $2 and $4 per new follower. Promoted trends may cost up to $200,000 per day if they are linked with the most popular subjects on Twitter.
Twitter – Funding and Investors
Twitter has raised a total of $12.9 billion in funding over 15 rounds.
Date
Transaction Name
Money Raised
Lead Investors
June 1, 2022
Post-IPO Equity
–
Greenlight Capital
May 4, 2022
Post-IPO Equity
$7.2B
–
Mar 4, 2022
Post-IPO Equity
$2.9B
Elon Musk Revocable Trust
Mar 1, 2021
Secondary Market
$1.3B
–
Dec 20, 2011
Venture Round
$300M
Alwaleed Bin Talal
Sep 8, 2011
Secondary Market
$400M
–
Aug 2, 2011
Series G
$400
DST Global
Feb 9, 2011
Secondary Market
$80M
–
Dec 15, 2010
Series F
$200M
Kleiner Perkins
Jan 8, 2010
Series E
$5.2M
–
Twitter – Investments
Twitter has made 10 investments throughout the years. Here’s looking at them below:
Date
Organization Name
Round
Amount
Feb 8, 2022
OpenNode
Series A
$20M
Jan 11, 2022
Aleph Holding
Corporate Round
–
Oct 7, 2021
Alter
Seed Round
$3M
Apr 8, 2021
ShareChat
Series E
$502M
Sep 24, 2020
ShareChat
Series E
$40M
Sep 2, 2020
Skillz
Post-IPO-Equity
$159M
Aug 15, 2019
ShareChat
Series D
$100M
June 2, 2017
PlaySight Interactive
Series C
$11M
Oct 1, 2014
MIT Media Lab
Grant
$10M
Oct 18, 2010
Overdrive
Private Equity Round
–
Twitter – Acquisitions
Twitter has acquired about 67 organizations. Here’s a glance at the most recent acquisitions made by Twitter:
Acquiree Name
About Acquiree
Date
Amount
OpenBack
OpenBack offers a push notification platform designed to deliver personalized notifications in order to increase engagement.
Apr 12, 2022
–
Quill
Quill is a computer software company that provides a messaging software built for productivity, not engagement.
Dec 7, 2021
–
Threader
Compile your favorite Twitter threads in one place
Nov 15, 2021
–
Sphere (Acquired by Twitter)
Now part of Twitter! Sphere is a community chat app turns groups into close, vibrant, purposeful and productive communities, instantly!
Oct 19, 2021
–
Brief
Brief is to foster healthy discourse by rethinking the way we read the news.
Jul 28, 2021
–
Scroll
Scroll is creating a sustainable experience that puts amazing content in front of engaged users without all the noise.
May 4, 2021
–
Reshuffle
Reshuffle is an open source integration framework that lets developers build workflows & connect systems.
Mar 24, 2021
–
Revue
Revue is a developer of an editorial newsletter tool designed to build a direct relationship with the readers.
Jan 26, 2021
–
UENO.
UENO is an operator of a digital design agency that specializes in designing and building products, brands, and experiences.
Jan 6, 2021
–
Breaker
Breaker is an audio company that develops a podcast listening and discovery application.
Jan 4, 2021
–
Twitter enjoys 237.8 million monetizable DAU (Q2 2022). Twitter measures its user base by the metric called monetizable daily active users (mDAU). monetizable daily active users (mDAU) is defined as the total number of user accounts that were logged in and accessed Twitter on any given day.
If you’ve used Twitter for a long time, you must be well aware that not everybody has noble motives. Sadly, whether you’re a regular citizen or a well-known personality, many users face a deluge of hate in their comments daily.
Twitter has made efforts to combat abuse, to be sure. Users can, for example, filter the mention that they see. Furthermore, in 2021, Twitter launched “Safety Mode,” which allows you to temporarily ban profiles that use abusive language or post inappropriate comments.
Nonetheless, there is indeed a considerable distance to cover until harassment and bullying are no longer prevalent on the platform. Agrawal, the CEO of Twitter said that his main focus will be to combat this problem. On Twitter, misinformation spreads rapidly, and preventing this requires a collaborative effort from both the company and its users.
Twitter is yet one of the most trendy and popular social media platforms in today’s world. However, in recent years, it has experienced stiff competition from apps like TikTok. While it has initiated several advancements, it also needs to look beyond the box.
The firm still has a sizable customer base and a valuable offering. However, Twitter’s income increased by just 7% in 2020, to $3.7 billion. This amounted to $26 million in operational profit. COVID-19 undoubtedly contributed to Twitter’s profits, but others may claim that the network has done very little development in an intensely challenging social media world.
Twitter, ever since the social media platform has been founded, has witnessed its own share of challenges and mishaps. Twitter was down on Friday, February 11, 2022, due to a global outage. This was really a piece of big news, which prevented thousands of Twitter users from accessing their accounts.
The Twitter accounts of Elon Musk, Bill Gates, and Barrack Obama, were hacked in a cryptocurrency scam. Late on Wednesday, July 15, 2020, there were irrelevant Tweets about cryptocurrency by Famous twitter personalities. This left some users baffled.
It turned out that the Twitter accounts of these personalities were compromised. However, users soon realized that it wasn’t just these accounts, but the Twitter accounts of Jeff Bezos, Kayne West, and many famous personalities were also compromised. While these types of scams are fairly common the question that arose was how these hackers gained access to high-profile Twitter accounts.
Nearly two hours after the hack, Twitter locked down and prevented at least some verified accounts from posting any tweets. After their first tweets were deleted the same bitcoin scam tweets were made again from the official accounts of Bill Gates, Obama, and high-profile personalities.
Twitter’s Response to the Hack
We detected what we believe to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools, said Twitter support.
Twitter Layoffs
While Twitter was upset about its shareholding pattern, hardly could anticipate its acquisition, and then nodded for the same, but was in trouble with its spam and fake accounts, the popular Twitter social media platform parted with 30% of its recruiting workforce, which was less than 100 employees, as far as reports go, dated July 7, 2022.
Just a week after the company’s takeover by Elon Musk, Twitter laid off 3,700 people, which accounts for nearly 50% of its workforce.
Twitter – Competitors
Twitter has several Competitors in the same industry but all with different features. Some of them are:
Facebook is an American online social media and social networking Service owned by Meta Platforms, formerly known as Facebook. Facebook was founded by Mark Zuckerberg in 2004. Facebook enjoys 2.85 million active users per month (31 March 2021).
Pinterest
Pinterest is an image-sharing and social media service platform headquartered in San Francisco. It was invented in 2009 by Paul Sciarra, Evan Sharp, and Ben Silbermann. Pinterest is an image discovery tool mainly consisting of pins and boards. Pinterest currently enjoys 431 million active users globally (February 2022).
Snapchat
Snapchat is an American multimedia instant messaging app. It was introduced by Snap Inc in the year 2011. Snapchat is more popular for its ability to share images and videos with the addition of filters. Snapchat enjoys active users of about 319 users per year (2021).
Twitter – Future Plans
Twitter has more activity than any other social media platform right now. A few months ago, the microblogging site famed for its 280-character restriction attempted to relaunch itself with a slew of new features while maintaining its distinguishing qualities.
Twitter has also shown social responsibility by installing powerful measures to keep fake news and hate speech out of its virtual debates, with even former US President Donald Trump being banned.
Twitter is continually improving while also introducing new features like Spaces and Super Follows. When it comes to advertising, Twitter will be pushing performance marketing ahead in a big way. The company also wants to increase the number of technologies and marketing alternatives available to both major brands and small and medium enterprises.
Twitter wants to double the number of its active users till the time of 2023. The Twitter team wants Twitter as a safe platform where people can easily share their thoughts without the worry of backlash or similar uncertainty. Twitter also plans to expand its marketing performance with better innovation and ad creation.
Twitter plans to increase its daily users to 315 million users and the revenue to be at least $7.5 billion by the year 2023. Twitter plans to launch new features for more users to gain its attention.
After acquiring Twitter, Elon Musk is taking drastic actions for the company, like mass layoffs and implementing a charge for a blue-tick verification mark. Now, only time will tell what other future plans Musk has for Twitter.
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.
Today when we talk about the world’s most influential and richest entrepreneurs, Elon Musk comes to our minds for sure. He has always been in the news, let it be his new venture, his way of working, or his net worth.
Elon Musk’s tweets catch the attention of the masses; be it Elon Musk naming his baby X Æ A-12, which created a lot of buzz around the globe, or the “How Strange. Well, back to work…” one after Bloomberg announced him the richest person in the world, but only a few know about his life story.
Elon Reeve Musk was born on June 28, 1971, in Pretoria, Transvaal, South Africa. Elon Musk is an innovative business person, financial specialist, and engineer who is one of the most popular entrepreneurs in the world. He holds South African, Canadian, and U.S. citizenship. Elon Musk is the founder, CEO, and lead planner of SpaceX as well as a fellow benefactor, CEO, and item engineer ofTesla, Inc.
Elon Musk became the Richest Man in the World on January 7, 2021, after Tesla’s share price surged by 7.9%. It helped him to surpass Jeff Bezos. Musk was featured on the top of the Bloomberg Billionaire Index, a list of the top 500 richest people in the world, on 7th January 2021. Musk had added more than $122 billion to his fortune in the year 2021, which pushed his net worth to $292 billion, according to the reports dated October 2021. This made Elon Musk the first person to be the owner of such a huge fortune. Elon Musk’s net worth was then estimated to be $195 billion, which is currently estimated to be over $220 billion. He debuted on the list of the world’s richest persons back in 2012, when his net worth was estimated at $2 billion.
The tech tycoon went ahead with a bid to buy out Twitter by acquiring 100% of the Twitter stakes on April 26, 2022, in a deal worth $44 billion. However, the deal is still pending and the popular social media platform is yet to turn into a privately held entity.
To know more about the entrepreneur Elon Musk, Elon Musk biography, the answers to “what has Elon Musk studied?”, “what companies has Elon Musk founded?”, “what is Elon Musk famous for?” and more, stay glued!
Founder, CEO, and Chief Engineer at SpaceX; CEO and Product Architect of Tesla, Inc.; Founder of The Boring Company; and Co-founder of Neuralink and OpenAI
Elon Musk was born in Pretoria, South Africa, to a White South African electromechanics Engineer, pilot, sailor, consultant and product developer, who was his father and a Canadian Dietitian and model mother. Errol and Maye Musk divorced in 1980. Though Musk initially started to live with his father in Pretoria and elsewhere immediately after the separation of his parents, Elon later regretted his choice and started to be estranged from his father. Elon Musk has been described as an awkward and introverted child throughout his childhood and he has also been a victim of regular bullies in his school days. In one such incident, Musk was pushed by a group of boys down a flight of stairs and he was hospitalised later.
Elon Musk – Career
Elon Musk joined Anglican Sunday school in his youth. He later entered Queen’s University, in Kingston, Ontario in 1990. He was soon transferred to the University of Pennsylvania after 2 years, from where he graduated in 1995 with a Bachelor’s degree in Physics and Economics.
While still enrolled in his course, Musk then held 2 internships in the summer of 1994 in Silicon Valley, at the Pinnacle Research Institute and Rocket Science Games. He then was accepted as a PhD scholar in Materials Science at Stanford University in California in 1995. However, Musk later dropped out of the course and decided to join the internet boom and launch an internet-based startup.
Elon Musk – Personal Life
Elon Musk is the eldest of the three siblings, Kimbal and Toska, who are the younger brother and sisters of Musk. Elon’s adenoids were removed when he was a child because his parents were apprehensive that he was deaf, however, they discovered later on that it wasn’t true. His parents divorced in 1980. After their divorce, though Musk initially gravitated towards his father, he chose his mother later.
Musk’s marital life started with Justine Wilson, a Canadian author, whom he married in 2000 when he was at Queen’s University. They first had a son, who died of SIDS at 10 weeks. After that, the couple gave birth to a twin and a triplet. Talulah Riley was the second wife of Musk. However, they eventually got divorced and then remarried, and again got divorced for the second time. After ending this marriage, Musk dated Canadian musician Grimes, who later gave birth to a son in May 2020. Their son was named X AE A-XII.
How Elon Musk started his Journey?
Musk developed an interest in computing and video games from a very early age. He acquired Commodore VIC-20 when he was only 10. He started learning computer programming using a manual and successfully sold the code of a BASIC-based video game called Blastar to PC and Office Technology magazine for $500, which he created, at the tender age of 12.
At 17, Elon Musk chose to move to the United States for finishing his auxiliary tutoring. Rather, Musk left for Canada and got selected at Queen’s University in Ontario at 19 years old. His calling came when he got a grant from the University of Pennsylvania. Then, he moved to the United States and acquired a Bachelor of Science degree in Physics. He proceeded with his training further, acquiring himself a Bachelors of Science qualification from the Wharton School at the University of Pennsylvania.
He started with a PhD programme at Stanford University in 1995 yet dropped out just after 2 days to seek an enterprising vocation. As published in the Hitchhiker’s Guide to the Galaxy by Douglas Adams, Elon Musk accepted that the internet, sustainable power sources, and space travel would be the ones having the greatest effect on the lives of individuals in the future.
As chosen, the three noteworthy subjects of worry for giving his life’s central goal, Elon Musk, alongside his brother Kimbal Musk, began an organization named ‘Zip2’. Elon Musk dropped out of the Applied Physics and Material Science program at Stanford University after two days in the wake of beginning this new pursuit known as Zip2.
Elon Musk story
Elon Musk’s Business Ventures
Elon Musk has evolved different and distinct categories in his comprehensive business field. From automobile miracles to secured money handful-application, from artificial intelligence (AI) research organizations to uplifted propagation throughout the space, Musk has achieved huge feats everywhere with his proficient signature and discretion. Those catalysts of his supremacy are listed below-
Zip2
Zip2 logo
In 1995, Musk with his brother Kimbal Musk began a web programming organization – Zip2, with cash raised from a little gathering of holy messenger investors. The organization created and advertised an Internet city control for the newspaper distributing industry with maps, directions, and yellow pages. Zip2 enabled all real print distributions to offer extra business administrations to their clients.
Musk got contracts with The New York Times and the Chicago Tribune. Musk convinced the governing body to devise plans for a merger with CitySearch. While at Zip2, Musk wanted to move toward becoming CEO but the board members opposed it.
In February 1999, Compaq, a noteworthy web crawler at that point, procured this IT organization – Zip2 for $307 million in cash and $34 million in stock options. The deal made it one of the greatest money acquisitions in those days. Musk got $22 million for his 7% share from the sale.
X.com and PayPal
Logo of x.com and PayPal
In March 1999, Musk established X.com, an online budgetary administration and email payment company with $10 million from the closeout of Zip2. One year later, the organization merged with Confinity, which had a payment service application called PayPal.
After merging, they concentrated on the PayPal administration and were renamed PayPalin 2001. PayPal’s initial development was driven essentially by a viral showcasing effort where new clients were selected when they got cash through the service. Musk was removed in October 2000 from his job as CEO because of conflicts with other organization authorities.
Musk wished to move PayPal’s Unix-based foundation to Microsoft Windows, which was opposed by all. In October 2002, eBay acquired PayPal for $1.5 billion in stock, of which Musk got $165 million. Before its deal, Musk, who was the organization’s biggest investor, claimed 11.7% of PayPal’s shares.
In July 2017, Musk bought the domain X.com back from PayPal for an undisclosed sum, expressing that it has sentimental value to him.
SpaceX
In 2001, Musk considered Mars Oasis, an undertaking to send a small test nursery on Mars, in the hopes of revolutionizing the aerospace industry and making affordable spaceflight a reality. In February 2002, Elon Musk came to Russia to search for three ICBMs (missiles), bringing along Mike Griffin. Griffin had worked for the CIA’s investment arm, In-Q-Tel, just as NASA’s Jet Propulsion Laboratory, and was simply leaving Orbital Sciences, a producer of satellites and rockets.
Kosmotras, a Russian Space Company, offered one rocket for $8 million. But Musk found it excessively costly and refused to purchase it. While on the trip back from Moscow, Musk understood that he could begin an organization that could manufacture the moderate rockets he needed. Musk calculated that the raw materials needed to structure a rocket really were just 3% of the commercial cost of a rocket at the time.
In 2002, Musk ultimately established SpaceX with the long-term objective of making a genuine spacefaring civilization. With US$100 million of his initial fortune, Musk established Space Exploration Technologies or SpaceX, in May 2002. Musk is CEO and boss of innovation official (CTO) of the California-based SpaceX organization.
Logo of SpaceX
SpaceX creates and makes space dispatch vehicles with an emphasis on propelling the condition of rocket innovation. The organization’s initial two dispatch vehicles were the Falcon 1 and Falcon 9 rockets (a gesture to Star Wars Millennium Falcon) and its first shuttle is the Dragon (a gesture to Puff the Magic Dragon).
In seven years, SpaceX planned the group of Falcon dispatch vehicles and the Dragon multipurpose spacecraft. In September 2008, SpaceX’s Falcon 1 rocket turned into the main privately financed fluid-powered vehicle to place a satellite into Earth orbit. On May 25, 2012, the SpaceX Dragon vehicle berthed with the International Space Station (ISS), impacting the world forever as the primary business organization to dispatch and compartment a vehicle to the ISS.
In 2006, SpaceX was granted an agreement from NASA to proceed with the improvement and trial of the SpaceX Falcon 9 dispatch vehicle and Dragon spacecraft so as to ship freight to the International Space Station. It was followed by a $1.6 billion NASA Commercial Resupply Services program contract on December 23, 2008, for 12 flights of its Falcon 9 rocket and Dragon shuttle to the Space Station.
On December 22, 2015, SpaceX effectively handled the principal phase of its Falcon rocket back at the platform. This was the first run in history such an accomplishment had been accomplished by an orbital rocket. It became the first step towards rocket reusability, bringing down the expenses of access to space.
In the entire year of 2017, SpaceX launched its eighteen Falcon 9 flights, successfully, which are more than the previous year’s 8 flights. On February 6, 2018, SpaceX effectively launched the Falcon Heavy, the fourth-highest capacity rocket ever built and the most powerful rocket in activity in 2018. The debut mission carried a Musk’s Tesla Roadster as a dummy payload.
Today, SpaceX is both the biggest private maker of rocket motors on the planet and holder of the record for the most noteworthy push-to-weight proportion for a rocket motor (the Merlin 1D). SpaceX has created in excess of 100 operational Merlin 1D motors. Every Merlin 1D motor can vertically lift the heaviness of 40 normal family vehicles.
Tesla Motors
Logo of Tesla, Inc.
Tesla, Inc. (initially Tesla Motors) was established in July 2003 by Martin Eberhard and Marc Tarpenning. They financed the organization until the Series A funding. The two men were actively involved in the company’s development. In February 2004, Musk joined Tesla’s board of directors as its chairman and led the Series A round of investment.
Musk played a functioning job inside the organization and supervised the Roadster item structure at a definite level, yet was not profoundly engaged with everyday business operations. Following the money-related emergency in 2008 and after a progression of raising clashes in 2007, Eberhard was expelled from the firm. Musk expected initiative of the organization as CEO and item engineer, positions which he holds even today.
In 2008, Tesla Motors initially built an electric sports car, the Tesla Roadster, with sales of 2,500 vehicles to 31 nations. On June 22, 2012, Tesla started the conveyance of its four-door Model S car. On February 9, 2012, it uncovered its third item, the Model X for the SUV/minivan market but Model X dispatch was postponed until September 2015.
Tesla’s income in 2018 was $21.46 billion. In 2013, Tesla’s Model S was the first electric vehicle to get the Car of the Year Award by Motor Trend. Over the most recent four months of 2018, Tesla’s US piece of the overall industry was about 2%. It costs $13.66 to completely charge a Tesla Model X at home.
The general Tesla total assets were evaluated to be $2.2 billion in 2018, dependent on its income and benefits. Nearly 75% of every single electric vehicle sold in the US in 2019’s first quarter were Teslas. Tesla saw an income of $21.461 billion in 2018. The total assets of Elon Musk, Tesla’s CEO, were $18.1 billion as of May 2019.
Tesla recently saw a surge of 4.8% in the share price helping Elon Musk surpass Jeff Bezos to become the richest man in the world.
Neuralink Corporation is another company of which Elon Musk is the co-founder. Founded in July 2016, Neuralink is a neurotechnology company that is engaged in developing implantable brain-machine interfaces (BMIs). Headquartered in Pioneer Building, San Francisco, California, Neuralink shares its office with OpenAI.
In an hour-long interview on Joe Rogan’s podcast, SpaceX and Tesla CEO Elon Musk said that his neuro-tech company Neuralink is going to launch the first product that can make any brain function as a superhuman AI. San Francisco-headquartered Neuralink is developing implantable brain-machine interfaces (BMIs) or Cyborg that could improve memory or allow for more direct interfacing with computing devices.
Neuralink Corporation is an American neurotechnology company founded by Elon Musk in 2016. Elon Musk claims that the moto of Neuralink is a human enhancement and the technology, which will be able to merge the computers with the human brain. Thus, it will obtain a symbiotic relationship between the human brain and Artificial Intelligence.
“ If your biological self-dies, you can upload into a new unit. Literally. It will enable anyone who wants to have superhuman reasoning and intelligence.” – Elon Musk
Developing such implantable brain-computer interfaces(BCIs) or cyborg will be quite a challenge and to be on top of the game, Elon Musk needs to stay ahead of Neuralink’s competitors with a heavy focus on applied engineering. BCIs must incorporate features that are a thousand times better than the existing interfaces with no surgery, no aesthetics, and definitely no drilling holes in the skull.
Elon Musk further points out that there has been a significant advancement in the field stating, “I think Neuralink will have something interesting to announce in a few months that’s at least an order of magnitude better than anything else, probably better than anyone thinks is possible.”
You can see the podcast here:
Elon Musk’s Interview with Joe Rogan
In early 2017, he made a jaw-dropping revelation stating that robots will disrupt our job scenario and that there’s nothing much that can be done and the competition between the countries with the most sophisticated AI will be the reason for World War 3. Probably to him, the merging seems like a better option which might give a human a better chance of surviving. “The merge scenario with AI is the one that seems like probably the best. If you can’t beat it, join it,” Musk said.
OpenAI
OpenAI is an artificial intelligence research laboratory that consists of OpenAI LP, which is a for-profit organization, and OpenAI Inc, its parent company. OpenAI is another Elon Musk-founded company, which he founded in December 2015, along with Sam Altman, Ilya Sutskever, Greg Brockman, Wojciech Zaremba, and John Schulman. OpenAI was founded with an aim of promoting and developing a friendly AI that will benefit humanity as a whole. The collective pledging of $1 billion by Sam Altman, Elon Musk, and others resulted in the birth of the company. It is important to note that Musk has already resigned from the Board of the company in February 2018, but he still remains a donor.
The Boring Company
Logo of The Boring Company
In December 2016, Elon Musk founded the infrastructure and tunnel construction services company, The Boring Company is also known as TBC. Musk has experienced difficulty with Los Angeles traffic and limitations with the current two-dimensional transportation network. This led to the inspiration for the project.
The Boring Company currently has active construction and is planning future projects in the Los Angeles and Baltimore–Washington areas. They have also been selected to build a downtown-to-airport loop by a government program for high-speed transport in Chicago. There have been three boring tunnel projects proposed in the Los Angeles area out of which one test tunnel was completed in November 2018.
Though The Boring Company was initially formed in December 2016 as a subsidiary of SpaceX, it become a separate and fully independent company in 2018. In this, 90% of the equity was owned by Musk and 6% held by SpaceX in return for the use of SpaceX resources during the initial startup of the company. Outside investments during 2019 have changed the equity split.
Twitter
Twitter Logo – A firm owned by Elon Musk
Elon Musk is one of the most famous tweeps who almost keeps his audience hooked with his Twitter profile. Musk has always been an avid Twitter user and was on the brink of becoming a 100% owner of Twitter, the bid for which he placed on April 26, 2022, where he was looking forward to acquiring 100% stakes in Twitter in an all-cash deal worth around $44 billion. However, he finally turned down the deal, citing multiple breaches of the deal.
Musk first expressed his interest in buying the platform in 2017. In the wake of 2022, Musk started materialising this dream of his by buying significant stakes in Twitter first on January 31, 2022, which reached 5% on March 14, 2022. He became the largest stakeholder in Twitter on April 1, 2022, owning over 9% of its stakes. Musk then agreed to a deal on April 4, 2022, which prohibited his possession of more than 14.9% of the shares of his company and would assert his joining the board of directors of Twitter. However, Musk decided to not join the board before April 9, 2022, when the appointment became effective. Elon Musk then placed a bid to buy 100% of Twitter’s shares on April 13th at $54.20 per share. This bid was granted by the Twitter board and would have made Elon Musk the owner of 100% of Twitter’s shares in a deal worth $44 bn if Musk didn’t walk away from the deal. There was also a breakup fee of $1 bn if the deal falls apart. Elon Musk threatened to blow up the deal over the bot issue on June 10, 2022, and ultimately terminated the deal in the first week of July 2022. In reply to this, Twitter sued Musk on July 12, 2022.
In the case filed at the Court of Chancery, Delaware, the acquisition deal was to be forced to go through, as per the decision by Chief Judge McCormick, thereby being ruled against Elon Musk.
Elon Musk – Investments
Elon Musk has 7 investments to date, all of which are personal investments. Here’s a list of the Elon Musk investments:
Elon Musk is recognised for his fight against global warming and Tesla is one of the examples of it. Some of the awards and recognition that he has received are:
For his advocacy, he has received Global Green Award and National Wildlife Federation’s Connie Award.
He has received the Entrepreneur of the award of Inc Magazine and is also known as the Living Legend of Aviation by Kitty Hawk Foundation.
Musk has also been ranked 1 on Forbes’ Billionaires list. Musk is a receiver of the Axel Springer Award.
In 2010, Musk received FAI Gold Space Medal from the Federation Aronautique Internationale.
Elon Musk – Controversies
The richest person on the planet has some fair share of controversies as well. Elon Musk is said to be quite blunt with the tweets that often surround him with controversies. Some of them are:
Right after he was all set for the Twitter acquisition, Musk said that he will buy Coca-Cola and put cocaine back in the beverage.
Musk named the cars from the Model 3 series of Tesla first as Model S, Model E and Model X. However, when Ford allegedly warned Tesla about a lawsuit for using Model E, Tesla changed its name to Model 3, which still made the models together sound like S.3.X
Elon Musk smoked weed on the Joe Rogan podcast and was surrounded by memes and controversies
Musk joked about sending space dragons with lasers to help Ukraine fight the Russians after an article stated that Musk would send flame-throwing electric tanks to Ukraine
During Canada’s trucker protest, Elon Musk compared Hitler with Canadian President Justin Trudeau.
Musk got Sued by Twitter
Elon Musk was legally sued by Twitter for “hypocrisy”, reported The Verge at Delaware’s Court of Chancery on July 12, 2022, after he decided to terminate the Twitter acquisition deal. This opened another chapter of Musk’s life where he will resist his claim in court against the social media giant Twitter.
Elon Musk – Unknown Facts
The richest man is not only unique but interesting as well. Some of the unknown facts about Elon Musk are:
When Musk was 12 years old, he created a video game called Blaster and sold it to a magazine.
Musk named his son Xavier after the character of Professor Xavier from the movie X-Men.
Musk also had a cameo in The Simpsons, along with those in South Park, The Big Bang Theory, Rick and Morty, and more.
Musk’s first venture was Zip2 which was created in 1995.
Musk doesn’t like Facebook and is concerned about its privacy issues.
Elon Musk gets a $1 salary from Tesla.
Musk is called Thrillionaire. It means an entrepreneur who is turning reality into science fiction.
Elon Musk – Quotes
Some of the most popular quotes from Elon Musk are:
When something is important enough, you do it even if the odds are not in your favour.
Some people don’t like change, but you need to embrace change if the alternative is a disaster.
If something’s important enough, you should try. Even if – the probable outcome is a failure.
People work better when they know what the goal is and why. It is important that people look forward to coming to work in the morning and enjoy working.
If you’re trying to create a company, it’s like baking a cake. You have to have all the ingredients in the right proportion.
Elon Musk – Future Plans
Elon Musk has never made his desire to make people “multi-planetary animal types”. Colonizing Mars would be a decent start as per Musk. In September 2017, at the 68th International Astronautical Congress in Adelaide he unveiled his arrangement to send payload delivers there in the following 5 years. By expansion, he trusts that people will settle the planet when 2024.
Elon’s Hyperloop has been contrasted by him with a “cross between a Concorde, a railgun, and an air hockey table”. The plan is to eventually give a method for a movement that should have the option to surpass 1124 km/h and all underground.
At present two courses are being developed – between Los Angeles and San Francisco and between New York and Washington D.C. When complete these excursions should take close to 30 minutes utilizing Hyperloop.
At the point when 12 youngsters and their football (soccer) mentor were caught in an overwhelmed collapse in Thailand, Elon and his group developed an apparently insane thought. The arrangement, clearly, was to construct a tyke-estimated submarine. The sub was structured and worked in record time utilizing extra rocket parts. Regardless of this, the salvage groups esteemed it unrealistic and finished the mission without it. “Pedo fellow” aftermath aside Thai military authorities accept the submarine could have utility in the future.
Elon Musk was born in Pretoria, South Africa, and was raised in Pretoria and the regions nearby the capital of South Africa.
What did Elon Musk study?
Elon Musk has a Bachelor’s degree in both Physics and Economics.
What’s Elon Musk’s IQ?
Elon Musk’s IQ is estimated to be ranging between 150-155.
What is Elon Reeve Musk famous for?
Elon Musk has founded the electronic payment firm PayPal and spacecraft company SpaceX. He is the CEO of the electric-car maker company Tesla. Musk is also the owner of the social media platform Twitter and the world’s richest person, as of April 2022.
Did Elon Musk acquire Twitter?
Elon Musk was about to acquire 100% stakes in Twitter and become the owner of Twitter. He asserted to buy out all of the stocks of Twitter in a deal worth $44 billion on April 26, 2022, but then he refused, leaving the deal pending.
What companies has Elon Musk founded?
Elon Musk founded many companies to date including SpaceX, The Boring Company, X.com, Neuralink, OpenAI, and Zip2.
Did Elon Musk create Paypal?
No, Elon Musk is not the founder of Paypal, nor did he create it. However, Elon Musk indeed found the company known as X.com. This company later merged with Confinity Inc., which was the creator of the product Paypal.
Is Elon Musk an entrepreneur?
Elon Musk is indeed an entrepreneur. The world’s richest person nourished his entrepreneurial dream right after he graduated from college.
What companies has Elon Musk founded?
SpaceX, SolarCity, and Tesla are some of the prominent companies that Elon Musk founded.
Is Elon Musk a real person? What is Elon Musk’s academic background?
Yes, Elon Musk is a real person. Going by the academic background of Elon Musk, the Tesla CEO has a Bachelor’s degree in Physics and Economics from the University of Pennsylvania.
How did Elon Musk start his career?
Elon Musk started his career by dropping out of Stanford University in just 2 days to start his company Zip2.
Anyone visiting a website must have come across the signup forms. The signup form is a synonym for the website’s pop-up or modal. Some of the forms are very simple, while others are not. Users often don’t like a signup form popping up due to how sudden it is and how it delays the website’s experience.
However, no matter the case, these forms are important for a website. These help the website to have your contact details and also keep you updated on everything the website comes up with.
In this article, we will go through some of the best signup form examples.
What Are Signup Forms, and Why Are They Important?
Signup forms are a website’s pop-up or modal that needs to be filled out if the users wish to utilize services from the website. These signup forms usually ask for your name, contact information like email and an account password.
Signup forms are important as it lets the website have a user’s contact and other information that helps them to recommend the best services. Moreover, for subscription-based and shopping websites, signup forms are crucial. They make sure you receive the right service or goods at the right address and on the right account.
What Visual Elements Do Customers Value on a Company’s Website?
Best Signup Forms Examples
Signup forms are necessary and they should be appealing too or at least, they shouldn’t make a user disinterested in the website. These forms often pop up too soon after opening the website. Some even have sayings like, “No, I’m not interested” as an alternative to signing up.
These usually lead to incomplete actions on the website as users start to lose interest. Websites need to make sure their signup forms do not make the user unhappy. They need to have signup forms that make users eager or happy to sign up. Thus, here are some of the top examples of signup forms of popular websites to take inspiration from:
Google
Google – Best Signup Forms Example
When talking about signup forms, Google happens to have one of the best ones. It is a very big company that deals with several websites, but its signup form is very simple.
Google has a very clear signup form. Its base colour is white with tones of blue. When it comes to the actual form, all you need to provide them with is your name, username and password. Google has also updated their security policies in recent years. They ask you to provide a recovery mobile number or email in case you cannot log into your account. All this happens during the signup. Thus, you can create a google account without any hassle, knowing that only you can log into it.
Netflix has a very minimal signup page. Since it is a subscription-based platform, first, you have to choose a plan. After that, all you have to provide them with is your email and the password for your Netflix account. The very last step of this process is choosing your mode of payment. That’s all.
Netflix too keeps their signup form very simple. They keep it on a theme by having touches of red in the signup form. It looks very aesthetically pleasing to the users.
Airbnb has a very simple and visually pleasing signup form. They have kept a very minimalistic design. You are asked to provide either your phone number, email, or Apple or Facebook ID first and then, a verification code will be sent to your choice of contact detail. After verification, you have to add in your first and last name, date of birth and email. This is where the signup process ends.
While it might seem like we are asking for too much, it really doesn’t take too long to fill-up the form. There are three different steps to it, but they are easy and quick.
Shopify
Shopify – Best Signup Forms Example
It is a very diverse platform where anyone can sell their goods. They have done very well in the eCommerce sector. Shopify caters to all kinds of people. Their simple and easy-to-use signup form has made thousands of people use their services.
Shopify asks for the basic information when you’re signing up for a trial account. They just ask for your email, the name of your store and the password for your account. Thus, it is barely time-consuming.
Besides, Shopify has made its signup form page very simple. It doesn’t have many animations or complicated designs. Moreover, they have a quote, “Anyone anywhere can start an eCommerce website”. This is a further reassurance to users that they can have a successful eCommerce business on Shopify.
The app makes it easy for any kind of user to signup on to their website or app. All they ask for is your email and if you don’t want to provide that, you can provide them with your Apple ID as well. Either way, it’s only one contact information they ask for. After that, you’re all set to explore their services. Another interesting thing about Reddit’s signup form is that they tell you that it’ll take a few seconds. Hence, you know that you won’t have to wait long for the signup.
Twitter
Twitter – Best Signup Forms Example
Another signup form from which one can take inspiration is Twitter’s signup form. It’s a straightforward process involving a three-details-filling procedure, which makes it easy for users to enter their details.
Customizing the entire experience where you choose the updates, ads and people you know according to your preferences.
When you are on Twitter, you simply click on the preferences you want and your job is done! All of this makes Twitter’s signup form one of the best ones you can take inspiration from.
PayPal first asks you for your mobile number and email. After that, there is other information you have to give in. Since PayPal requires a lot of information, the signup form is split up into multiple steps. It helps the process look clean. Multiple sign-up forms are always better than one lengthy sign-up form. They also show the users how many steps are there in total and how many they have completed.
PayPal, like many others, keeps it simple when it comes to their signup forms. The colours are on theme and the design is not complicated at all.
Charlotte Tilbury
Charlotte Tilbury – Best Signup Forms Example
Anybody aware of the makeup world knows how excellent this brand is. Their signup form is equally satisfying.
They do not ask for too much. The Charlotte Tillbury signup form just asks you for your email. That’s all. Moreover, they provide a discount coupon for just signing up. This is a good trick as it makes users more willing to sign up. Besides, they have an alternate option to signing up, which is, “Not this time”. It is respectful of the user’s choice and does not totally eliminate the chances of signup. By having this option, they are trying to convey that you might want to signup later, and that’s okay.
Charlotte Tillbury has a very simple yet effective signup form page and a highly inspiring one.
Almost everyone on Facebook has seen videos by Tasty on their timeline. Tasty has become the largest food networking platform.
When you open the website, you will see a bunch of appealing food pictures and that will make you scroll down enough to see the signup form. Unlike other websites, Tasty’s signup form is colourful and thus hard to miss. It also has pictures of food, which makes it very much on theme. The signup form is, however, very simple. They only ask for your email.
Tasty makes users more eager to signup by making the signup form simple and easy to find.
Asana
Asana – Best Signup Forms Example
Individuals working in a particular business, and wanting to have a simple yet effective work experience, shouldn’t miss out on a website like Asana.
Just as simple as Asana’s signup form is, the work experience and systematic approach to document entries are marvellous. Only by filling in your email address on their signup form, you will be able to access the wide variety of features, it offers. With the perfect colour combination and simple design, Asana’s signup form steals away the show anytime.
Conclusion
Signup forms are necessary, but they shouldn’t cause any inconvenience to the users. A user should feel comfortable while filling up a signup form. Unfortunately, many websites fail to provide that ease or comfort. There are a lot of mistakes that they can make when it comes to these forms. But the signup forms of the above-mentioned sites have proven to be easy to read and use. They are also visually pleasing. Hence, they can surely be taken as inspiration while designing signup forms.
FAQs
What is a sign up form?
A sign-up form is a pop-up or web page, where the users of a website are required to fill in the information necessary to utilize the services of a website.
What Makes a Good Sign-Up form?
A good sign-up form is one that is clear and easy to understand by the users. It should include clear instructions to avoid any kind of inconvenience to the users.
How do I improve my signup page?
The following tips will help you increase user sign-ups:
Make your sign-up form easy.
Add Call-to-Action.
Make sign-up forms popup.
Provide offers and guarantees to the users on sign-ups.
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.
There are very few ideas and innovations that come into the world and impact everyone. One such thing is the rise of social media companies.
Two decades earlier who would have thought that connecting with people all around the world would become so easy. But thanks to technology and its great inventions it became possible.
Social media has made the world shrink in terms of connectivity. It has not only helped with connections but in the present times, it has provided great platforms for businesses.
All these companies have a huge DAU and MAU base that makes them a great pool of opportunities and entertainment for everyone.
The terms DAU and MAU, both signify the number of users. These are metrics that help to calculate the engagement of users towards a company.
In simple terms, the number of users who actively connect with a particular application daily is Daily Active Users (DAU). The number of people who actively connect with an application every month is Monthly Active Users (MAU).
How are DAU and MAU Measured?
There is a need to determine two things in order to measure the active users of a social media company. These are ‘Users’ and ‘Actions’. Users refer to the people who have downloaded the social media application. Action on the other hand involves logins, clicks, viewing, and other activities on the platform.
To measure the DAU companies pick a period of 24hrs and measure the number of active users during that time. The basic formula to find the Average DAU isthe sum of each day’s active users/number of days in a month.
To measure MAU which is the active users in a month, the company selects a month to record it. The basic formula to find Average MAU is the sum of each month’s active users/ 12 (Number of months in a year).
Top Social media companies greatly rely on the revenue generated from advertisements. This revenue increases with the increase in the number of active users. So, here’s the DAU and MAU of the top companies:
Facebook
Daily Active Users – 1.6 Billion Monthly Active Users – 2.9 Billion
Facebook Active Users
The name that made us familiar with the wide world of social media is Facebook. It was founded in the year 2004 by Mark Zuckerberg. Along with Mark, the other founders of the company include Andrew McCollum, Dustin Moskovitz, Eduardo Saverin, and Chris Hughes.
Facebook has surely managed to make itself to the top over the years and is the largest social network in the entire world today. In this huge network, India provides the most active users.
YouTube
Daily Active Users – 149 Million Monthly Active Users – 2.5 Billion
YouTube has been a great source of easy information for everyone. It has given birth to a new and creative field of profession that provides a great earning opportunity for many.
WhatsApp
Daily Active Users – 1 Billion Monthly Active Users – 2 Billion
The platform that made messaging, voice calls, and video calls super easy for us is WhatsApp. It was founded in the year 2009 by Brian Acton and Jan Koum. The company has the third-largest number of active users in the world.
India has the most active users of the WhatsApp which is more than any country. WhatsApp was earlier bought by Facebook in the year 2014.
Instagram
Daily Active Users – 600 Million Monthly Active Users – 1.5 Billion
It has a huge base of active users in various countries. The company was, however, banned by India in the year 2020 due to certain issues of national security.
Daily Active Users – 450 Million Monthly Active Users – 1.2 Billion
Another popular name in the world of social media is WeChat. It was founded in 2011 and developed by Allen Zhang. The platform is owned by Tencent, a Chinese firm.
It is a multi-purpose application that facilitates instant messaging, social media, and mobile payments. This application is banned in India, although it works in the United States, United Kingdom, Italy, and more.
Telegram
Daily Active Users – 55.2 Million Monthly Active Users – 550 Million
It is an instant messaging platform founded in the year 2013. The founders of the company are Pavel Durov and Nikolai Durov. It also provides the feature of file sharing, video calling, and others.
Telegram allows you to access your chats on different devices. Telegram is popular platform emerging as a challenging alternative to WhatsApp.
Snapchat
Daily Active Users – 319 Million Monthly Active Users – 557 Million
It is a super popular social media company based in America. It was founded in the year 2011 by Evan Spiegel, Bobby Murphy, and Reggie Brown.
The application allows users to share pictures with their friends in a quick and quirky way. The users can chat with their friends, view live stories from around the world, and also explore different content.
Twitter
Daily Active Users – 217 Million Monthly Active Users – 436 Million
Twitter is a microblogging and social network company. It was founded in 2006 by Jack Dorsey, Biz Stone, Evan Williams, and Noah Glass. Twitter is an America-based company.
The platform allows the users to post and tweet and also interact with others’ tweets. It helps the users to build a social network and also get updated with the latest news and trends.
Sina Weibo
Daily Active Users – 248 Million Monthly Active Users – 573 Million
It is a Chinese microblogging platform. It was started by Sina Corporations in the year 2009. Charles Chao, the CEO of Sina Corporations is the one who launched it.
It is similar to Twitter only based in China. This is one of the largest social media platforms in China. It has features like image posting, instant messaging, stories, the latest news and trends, and more.
Conclusion
Nowadays, when we think about marketing strategies, the first thing to come to mind is social media. The power of social media was not known to many but in recent times, it has become an integral part of almost every business, be it big or small.
The top social media platforms like Facebook, Instagram, YouTube, and more have a huge number of users. These users include the audience, content creators, influencers, and more. This huge base of users makes these platforms a great source of opportunities for many. With time, the active users usually grow and make for the success of these companies.
FAQs
Which social media platform has the highest active users?
Facebook has the highest active users.
What is the number of Twitter’s daily active users?
A schedule plays a very important role in keeping our lives in symmetry. The perfect division of the 24 hours makes it a lot easier for any individual to be productive in whatever they do. This would provide a beforehand knowledge of what works are to be done and get a head-start in efficiently completing that work.
Now coming to the importance of social media schedule in the life of an individual. It is no different from normal people’s lives, but it plays a more serious role. We shall know more about an influencer’s social media schedule in the following pool of words.
How to create social media Schedule? | Social Media Tools
What is Social Media Scheduling?
Nothing different from as the word suggests a social media schedule is a sort of personal planner that keeps track of all your social media accounts. In an influencer’s life, social media is the best platform to polish their influencing skills, be it a beginner or a pro. Hence, meeting the public’s demand is a tough as well as a necessary task to accomplish if one wants to increase the reach of one’s account.
Maintaining a social media schedule would make one aware of the content one has been posting and also provide an idea about what needs to be posted in the near future. The schedule makes it easier to fill the viewers’ newsfeed with new and catchy content. To meet the demand of a variety of content, the schedule plays its role by giving an overview to the account holder of what is needed to be posted next. The schedule also keeps the risk of posting repetitive content at bay, giving the respective account boosted reach and views.
Importance Of Social Media Schedule
Social Media Schedule
Most of us don’t maintain a timely routine to post on our social media handles. We just randomly come across a good picture and act on the thought of posting it. Or sometimes we go on a trip and post the pictures that come out of it. However, for an influencer, this wouldn’t work at all. The ability to post frequently with good content would keep the individual’s account in the constant limelight of the platform as well as the viewers.
This schedule would greatly help in planning what should fall in line with the content list in the future. Also, try with new variations. This would increase the magnetic field of the posts and attract a large number of viewers. Other than that, a knock of important events or dates to post the content would also be there with the individual. Consistency, creativity, variations, entertainment, and reach are many things that get a boost when merged with a proper social media schedule.
Producing a social media calendar is nothing serious task to perform. At the same time, it is not similar to making a normal daily routine. There are certain factors and tools required to complete this task. Just a pen and paper would not produce the intended objective.
Starting with the infamous google sheets. The tool has gained its use during this lockdown. Google sheets would provide an easy, smooth go-through with your schedule and recent posts. Just one click and all your social media activities would reflect in the eyes.
Another quite interesting feature that stands before google sheets is the Hootsuite planner. It is a next-level record keeper of your online posts. It can take up the toll of calculating the records of multiple accounts—the dates, future posts, recent posts, and the time of every post. On top of it, one can directly upload the content from the calendar itself prior to or at the scheduled time. These features give a slight tilt towards Hootsuite as a better option than google sheets.
Some best tools to make social media schedule
CoSchedule
CoSchedule – Social Media Scheduling Tool
This smart tool merged with the company’s website to schedule your posts. The most powerful feature, which makes it different is that the tool provides the performance of the top content. The report can be analyzed to reciprocate the improvement. It automatically rescheduled the important message to keep the brand feeds effective, which is rare in scheduling tools.
SocialPilot
SocialPilot – Social Media Scheduling Tool
Socialpilot allows you to be active over several social media websites, almost every popular site. It has one of the simplest interfaces and offers easy scheduling features. Along with creating customized posts, socialpilot has powerful collaboration features. It is considered as the tool to create the quickest white label report.
Sendible
Sendible – Social Media Scheduling Tool
This social media scheduler tool masters in automation and provides sentimental analysis. Your custom report can be sent to your team members for detailed analysis. It smoothly manages social media marketing for multiple consumers. Sendible has a dedicated dashboard for conversation, or messages.
ContentStudio
ContentStudio – Social Media Scheduling Tool
ContentStudio helps small businesses and agencies in creating and scheduling content on different social media platforms. This social media scheduling tool helps to categorize social media content at predefined posting time to gain audience attention. This relieves large teams from daily scheduling.
SocialBee
SocialBee – Social Media Scheduling Tool
Using SocialBee, you can set schedule posts for each social media platform separately. It offers category selecting options while posting and scheduling to make the process even faster. SocialBee has a dedicated content library to keep records of your previous post along with the social media site on which it is published.
Missinglettr is a fast and easy social media scheduler tool best for busy business people. Missinglettr comes with calendar tool support, which is a perfect schedule for campaigns. It has powerful analyzing tools to trace essential metrics of your social media campaigns.
Coming down to the final step of preparing one’s own social media schedule. This involves a bit of analysis. But in the end, it would come out in the face of the best social media content for an individual.
The foremost one can be picking the right social media platform. After being sure of the niche one is going to be on, one has to monitor which platform has the most viewers or surfers in that particular niche. This may include assessing the importance of one’s content in that particular platform. If not, then a switch to the next platform may be needed. Be it meta, Twitter, or YouTube. After that, the prime focus should be on that platform. Rest can be secondary handles. With a broad audience, the handle would get a good hype.
Following that, keeping track of the base from where the handle started would also help in growing the channel. Bringing in new variations would get a lot easier with this record. Apart from that, an analysis of how the handle is growing also stands in the essentials section. This includes the most liked post, most commented post, the one who got the most likes in very little time, and so on.
After that, planning a review pattern comes into action. Whatever activities have been performed, reviewing them helps to fill in the lacuna that prevails in the content. The missed events, updates, posts will be revealed by this review.
At last, keeping information about other handles gets an individual to learn many things that could fuel the viewer’s number on the particular handle. Learning things from other influencers would result in growth as well.
After all this while, coming up with a social media schedule might seem quite achievable now. Starting from the bottom, choosing one’s niche and platform till investing in the growth of the social media handle. Along with that, all the tricks, tips, and tools would accompany creating a perfect social media schedule. If followed precisely, all these things would definitely add up to producing a healthy schedule that would give a social media handle the type of recognition it needs.
The old-school trend of posting updates and stories in accordance with the picture quality is long gone. The audience demands new, entertaining content. This old-school trend would not stand a chance to be a proper influencer or social media influencer. Thus the schedule to maintain a professional influencer’s account.
FAQs
What is a good social media schedule?
A good Social media schedule on different social media platform as researched is found to be as below:
Facebook: 1-2 Posts per day
Twitter: 3-10 Tweets per day
Instagram: 1-3 posts per day
Instagram Stories: 2-5 times per day
Pinterest: 3-20 posts per day
LinkedIn: 1-2 posts per week
What are the top Social media scheduling tools?
Some of the top Social media scheduling tools are:
Sprout Social
Hootsuite
CoSchedule
Agora Pulse
Later
TweetDeck
Buffer
Socialoomph
What is a social media calendar?
A social media calendar is an overview of your upcoming social media post on different social media platforms.
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:
Tanusha Verma
