How many times have you come across viral Twitter tweets and seen shared tweets on various other social media platforms?
Interestingly, about 500 million tweets a day are shared on Twitter. Twitter also has 199 million daily active users worldwide.
Huge numbers can make you wonder what exactly Twitter does or how it became a multimillion-dollar company.
Twitter: A little in its history
Twitter is a microblogging platform created by Biz Stone, Evan Williams, Noah Glass and Jack Dorsey in 2006. Based in San Francisco, California, USA, Twitter has become a fire in the world of the Internet.
It has gained worldwide popularity since its launch. Currently, the platform is the ninth largest social network in the world.
In 2012, Twitter had more than 100 million users posting about 340 million tweets a day. It handled more than 1.6 billion daily queries. Twitter soon became one of the top ten most visited websites in 2013.
It has also become one of the most important news sources over time. For example, he gained a lot of strength during the US presidential election. In 2016, about 40 million election-related tweets were posted before 10pm on that particular day.
Twitter was made public in 2013, where it was valued at $ 31 billion on the first day of issuance of the initial public offering.
The Twitter code on NYSE is TWTR.
What can you do on Twitter?
What defines Twitter and makes it different from other social networking platforms is that it focuses on microblogging. This allows you to post and read very short posts known as tweets. Tweets have an upper limit of 280 characters, including links or website resources.
On Twitter, you can follow other users and read their tweets on your Twitter history. Similarly, those who follow you can read your tweets in their timelines. You can also follow organizations and celebrities that interest you.
Why should you use Twitter?
Twitter has gained a lot of strength among students, policymakers, academics, celebrities, and people in general.
It is an easy-to-use platform that allows you to comment in up to 280 characters. You can interact with people with similar interests, have discussions, and spread important information and news.
If you don’t like reading very long articles and paragraphs on the screen, Twitter is the best platform for you.
Twitter helps promote research work by uploading links to news, magazine articles, or blogs. You can reach millions of people by tweeting or republishing other posts. This helps you connect with other experts in your field and create connections.
You can send and receive feedback from others about your timeline and improve your quality of work.
Twitter has a broad consumer base for sharing the latest news and information between organizations, including the government. It allows companies to take advantage of new audiences and contribute to discussions about events and topics.
A look at Twitter’s business model
Twitter has a business model that resonates with other social networking platforms like Facebook, WhatsApp and Instagram.
On Twitter, those who are not registered can also read the tweets. However, you must be registered on Twitter to post tweets. Twitter has become famous in recent years and is called Internet SMS.
Registered users can post via the app, SMS and the Twitter website. Users are allowed to follow other accounts and view the tweets of the accounts followed in their timelines. Users can also share images, links and videos through their tweets.
Apart from that, Twitter allows you to send messages directly to other users. A recent feature called “Spaces” also allows multiple users to hold live audio conversations.
Switch to Content Creators
Recently, Twitter has shifted its focus to content creators and video creators, as visual content has the highest engagement in terms of advertising.
The move from text to video content caused Twitter to share its revenue with creators. The creators receive 70% of the cut, while the remaining 30% goes to Twitter.
Compared to YouTube, which offers a 55% discount to creators, Twitter has become a more profitable platform. It also invests in live streaming on its platform with Periscope.
Twitter focuses on revenue from advertising and content creation. In 2016 he bought the NFL digital rights for $ 10 million. This helped Twitter gain exclusive rights to all NFL-related events, which increased its advertising revenue and increased its user base.
Despite competition from Facebook and YouTube, Twitter can increase profits by ensuring cost management. It also depends on acquisitions and partnerships for revenue growth and strengthening the business model.
Twitter also spends a lot on research and development. For example, in 2019 it spent about $ 680 million on R&D. In addition, Twitter spends a considerable amount on sales and marketing to expand its audience.
Value proposition for stakeholders
Twitter offers its stakeholders several benefits.
- Advantages of the user: Share content globally, connect with millions, and participate in discussions.
- Advantages of advertisers: Unique and viral ad formats that connect with audiences around the world in a real way.
- Advantages of data partners: Easy access to data to analyze and produce statistics monetization.
Twitter is a large-scale social networking platform where you can post your tweets or retweet someone else’s post or tweet. This helps to share information between a large number of people quickly and efficiently.
The only point on Twitter that made him so famous was the concept of using only 280 characters to convey large chunks of information.
Tweets have gone viral around the world and millions of people are consuming information with just one click. With people switching to Twitter for news and updates, the future of Twitter looks promising.
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