Twitter Inc (NYSE:TWTR) Making Real Changes
Our TWTR target is $20 but we will review as changes are made at TWTR.
Twitter chief executive Jack Dorsey said the struggling messaging platform is in the midst of “rebooting” as it seeks to fulfil what he sees as its vital mission as a rapid source of information.
Speaking at the Twitter developers conference in San Francisco, Dorsey said the relationship with Twitter and third-party developers had become strained, but promised to work to improve the situation.
“Somewhere along the line, our relationship with developers became a little bit complicated,” he said.
“I apologize for our confusion,” he said, adding that “we want to reset our relationship, make sure we are learning, we are listening, we are rebooting.”
Dorsey said the developers play a key role in helping Twitter fulfil its important role in the global community.
“Twitter is unique because it is a brand, a bird, a logo that just about everyone on the planet has seen. It stands for something,” he said.
“Twitter empowers the conversation that the world needs to see.”
Dorsey also told the 1,500 developers that Twitter would make available analytical tools that can help them get better data on how people use applications.
Dorsey, a co-founder of Twitter, this month began his second stint as CEO as the San Francisco-based company seeks to revive growth and move toward profitability.
One of the first things Dorsey announced was the new Moments feature, which enables members to get a glimpse at breaking news.
– “Twitter Polls” –
On Wednesday, Twitter announced another feature called “Twitter Polls” that enables users to “weigh in on all the topics they care about.”
“If you want the public’s opinion on anything — what to name your dog, who will win tonight’s game, which election issue people care most about — there’s no better place to get answers than on Twitter,” said a blog post from Twitter’s Todd Sherman.
“For poll creators, it’s a new way to engage with Twitter’s massive audience and understand exactly what people think. For those participating, it’s a very easy way to make your voice heard.”
Dorsey was Twitter’s acting CEO following Dick Costolo’s resignation in June. This was his first major public appearance.
On October 13 Twitter said it was slashing eight percent of its workforce, or some 340 jobs, as Dorsey outlined his new “roadmap” to boost users and revenues at the money-losing messaging platform.
The San Francisco-based platform, which has not yet turned a profit, has struggled to expand its user base above 300 million, lagging rival networks such as Instagram and well behind the much larger Facebook.
However, Twitter says that one billion people have seen content published on its network through other sites or applications.
Twitter promised new tools that will allow better integration with third-party apps, and better integration into websites.
Twitter also announced a partnership with JCDecaux display advertising, which will incorporate Twitter content into its signs.
– Reaching out to businesses –
Twitter is also hoping to convince businesses of the advantages of its platform, which include new tools that allows them to get a close understanding of users, including such information as demographics and personal interests.
A merchant, for example, can identify a customer via Twitter and engage in a live conversation on the platform — for example to correct a placed order.
Facebook already has something similar with its Messenger app.
These new announcements did not halt the slide in Twitter stock, which dropped five percent on Wall Street Wednesday.
Twitter, Inc. (Twitter), incorporated on April 19, 2007, is a global platform for public self-expression and conversation in real time. The Company offers products and services for users, advertisers, developers and platform and data partners.
Products and Services for Users
It enables a way for people to create, distribute and discover content. It enables a user on Twitter to create a tweet and a user to follow other users. Users are followed by other users without requiring a reciprocal relationship, which is an asymmetric follow model. The public nature of the Twitter platform allows it and others to extend the reach of Twitter content beyond its properties. Media outlets distribute tweets beyond its properties. Advertisers use its promoted products, which are pay-for-performance to promote their brands, products and services. It enables its advertisers to target an audience based on various factors, including a user’s interest graph. Its promoted products are incorporated into its platform as native advertising. Media outlets, including the BBC, CNN and Times of India use the Twitter platform for content distribution. Vine is a mobile application that enables users to create and distribute short looping videos of up to six seconds in length. Users on Vine follow other users, re-broadcast content to their followers by re-vining, comment on videos and embed videos on Websites. It offers users the option to capture, edit and share videos up to 30 seconds in length directly within the Company’s application.
Products and Services for Advertisers
Its promoted products enable its advertisers to promote their brands, products and services, and extend the conversation around their advertising message. Its promoted products consist of promoted tweets, promoted accounts and promoted trends. Promoted tweets appear within a user’s timeline or search results. Promoted accounts appear in the same format and place as accounts suggested by its Who to Follow recommendation engine, or in tweets in a user’s timeline. Promoted accounts provide a way for its advertisers to build a community of users interested in their business, products or services. Promoted trends appear at the top of the list of trending topics for a day in a particular country or on a global basis. It features one promoted trend per day per geography. Its technology platform and information database enables it to provide targeting services based on geography, interests, keyword, television conversation and devices for advertisers to promote their brands, products and services. Its platform also allows customers to advertise across the mobile ecosystem across the user lifecycle. MoPub, its mobile-focused advertising exchange, combines advertisement serving, advertisement network mediation and a real-time bidding exchange into one monetization platform. Advertisers also set up campaigns directly on ads.twitter.com to run across the Twitter Publisher Network. Purchasers of advertising services monitor their advertising campaigns through campaign management, real-time analytics and advertiser application program interface (API).
Products for Platform Partners and Developers
It provides a set of tools, public APIs and embeddable widgets that developers use to contribute their content to its platform, syndicate and distribute its content across their properties. Its platform products include Twitter Cards, which enable developers to attach content and functionality to tweets and have that content appear wherever a tweet is displayed throughout Web and mobile applications; The Twitter public API, which allows platform partners to integrate the Twitter content and follower relationships into their applications; Twitter for Websites, which is a set of tools that enable platform partners to integrate Twitter content and functionality into their Websites, and Fabric, which is a platform offering modular software development kits that help developers build applications and allows them to tap into Twitter’s sign-in systems for identity verification.
Products for Data Partners
It offers subscription access to its public data feed for partners who access data beyond its public API, which offers a limited amount of its public data. Its Gnip branded products and services offer data sets to allow developers and businesses to utilize its public content.
The Company competes with Facebook, Google, LinkedIn, Microsoft, Yahoo, Sina Weibo, LINE, Kakao and AOL.
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