Boston, MA 03/10/2014 (wallstreetpr) – Twitter Inc (NYSE:TWTR) has been one of the most successful startups of all time. Considering how ubiquitous it is today, it’s hard to imagine that all this started only in July 2006. It has an Alexa rank of 10 meaning it’s the tenth most visited website on the planet. Not a mean achievement considering the company is less than 10 years old. For a company with about 2,000 employees and revenue of $300 million leading to a loss of $511 million in Q42013, it certainly has an outsize cultural impact.
Everybody Loves Twitter
Well, whether they love it or hate it, Twitter Inc (NYSE:TWTR) has certainly become an essential part of how public personalities, celebrities, governments, NGOs, and others operate. Everybody from Bill Clinton to the Pope is on Twitter as are the heads of states of 125 countries. The fact that the Top 10 accounts on Twitter with the most followers are mostly celebrities with Katy Perry taking the No. 1 spot should not diminish Twitter’s importance.
A Successful IPO and a Bright Future
Any residual doubts about the importance of Twitter vanished when it had a spectacular debut on the NYSE. When Twitter Inc (NYSE:TWTR)’s stock price soared from its initial public offering price of $26 to $44.90, Twitter’s valuation reached nearly $25 billion. The Twitter stock has never looked back. However, being a publicly-listed company also means new expectations of growth in the top line and bottom-line. Twitter is taking steps to increase its revenue via the “promoted tweets” feature on user timelines. Twitter has thankfully become more stable compared to the early days when the Twitter Inc (NYSE:TWTR) “Fail Whale” used to make frequent appearance. Of course, Ellen DeGeneres and her record-breaking Oscar selfie shut down Twitter for 20 minutes.
Twitter is taking other steps including addressing users’ privacy challenges. Twitter Inc (NYSE:TWTR) has acquired 900 IBM patents recently to take care of patent infringement claims. Twitter introduced its own url shortener, integrated photo-sharing, and six-second looping videos known as ‘Vine.’ Controversies and Twitter go hand in hand. The most recent instance was when Twitter decided to ban explicit content from its Vine app. Rest assured that as Twitter Inc (NYSE:TWTR) enters its adolescence, it will become an even more powerful force of nature and all of us will hear about it more.