The Success Journey of the Twitter
Twitter is a platform with a bluebird logo. One of the main trends today’s generation follows is updating the status of the present circumstances. With the support of social media, that trend enables individuals to share their lives, routines, ideas, and any important information on a wider scope. There are several social networking sites on the internet where you can start the trend.
Twitter is both a platform for microblogging and a place where people can quickly engage and tweet their ideas. It was first created with the intention of delivering an SMS to a wide range of people. Twitter has developed into a social media and microblogging platform that distribute data on a range of topics. Similar to other platforms, it helps in creating connections between people.
From the beginning to the present, Twitter has gone on a remarkable journey. In the context of the Twitter success story, this case study discusses all the crucial milestones of Twitter, including its starting process, revenue model, future plan, and more.
Twitter — The Popular Microblogging Platform
Twitter belongs to the largest growing industry, the internet. As internet-based platforms are being used more and more, this industry is setting the stage for massive changes in the future. The tendency for humans to interact as well as advancements in digitalization has contributed to the growth of social media.
The term “microblogging” refers to the combination of creating content and instant messaging. Due to the limited scope of content delivery, it varies from typical blogging.
Microblogs include material that falls inside certain data ranges. They can be audio recordings, video recordings, or plain text. The microblogging sector is not sufficiently advanced and is still in its early stages. It is becoming one of the areas with the fastest growing.
The Founders Behind The Twitter
Twitter wasn’t created by just one individual. It took a whole group of four people to get together and launch this microblogging platform.
Twitter was founded in 2006 in the United States by Jack Dorsey, Biz Stone, Evan Williams, and Noah Glass.
Jack Patrick Dorsey, a co-founder of Twitter and a native American born on November 19, 1976, served as the company’s former CEO. His father worked for a company that developed mass spectrometers and his mother was a housewife.
Jack Dorsey attended New York University and the University of Missouri but did not graduate with a degree. Due to his unavoidable interest in programming, he started programming while he was still a student. After finishing his studies, he began working as a programmer.
Later on, he started his own company to dispatch couriers, taxis, and emergency services from the Web. Then he get that life-changing idea that became the foundation of the origin of Twitter.
His idea was to develop a platform that would easily integrate instant messaging with his dispatch software — The idea behind the invention of Twitter
Jack Dorsey contacted a company named Odeo with the same idea, and it was there that he first met the other co-founders of Twitter.
Following this, Twitter was successfully launched in 2006 with Jack Dorsey’s first tweet stating “just setting up my Twitter.” Users were able to instantly publish a tweet using only 140 characters. This is where Twitter which we know today we know had its start.
Twttr, another variant of the word “Twitter,” was the platform’s initial project name. The choice was affected by the fact that twitter.com was already in use at the time twttr was introduced, and it took the team six months to buy the domain and change the company’s name to Twitter. When it was first introduced officially, twitter was known as “twttr”.
Twitter’s initial logo was not a bird but rather its word in a green color. Later, this design of the logo was changed to the bird that we see today.
Noah Glass is considered a forgotten co-founder of Twitter who offered a few essential core features and concepts to the development of the platform.
Twitter is often known as the “SMS of the internet.”
Major Milestones of Twitter…
Twitter Logo
The Revenue Model of Twitter
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.
Similar to other social media networks, Twitter operates in a similar manner. For the purpose of using Twitter, the user must register with a username and password. Users who are not signed up for Twitter can only read tweets.
Twitter offers its users a number of perks, including the ability to spread their ideas to a worldwide audience. A large audience could also see the advertisement that is posted on it.
At the moment, Twitter generates revenue mostly through data licensing and advertising campaigns. Twitter is exploring new potential revenue streams to continue to expand its current income streams.
The way that Twitter’s business model is set up benefits its users, advertisers, and data partners.
Twitter’s revenue is primarily derived from advertising. The majority (86%) of the company’s revenue comes from advertising. Advertising examples include Promoted Ads, Follower Ads, and Trend Takeovers.
Future Plans of Twitter
Currently, Twitter is the social media network with the most engagement.
In addition to adding new features like Spaces and Super Follows, Twitter keeps becoming better. Twitter will significantly advance performance marketing in terms of advertising.
The Twitter team wants Twitter to be a secure platform where individuals may readily express their ideas without fear of backlash or other concerns.
Additionally, Twitter intends to improve its ad creation and innovation to improve its marketing performance.
Elon Musk is taking extreme measures for the company after purchasing Twitter, including mass layoffs and the implementation of a fee for the blue-tick verification symbol.
By the end of 2023, Twitter plans to have 315 million daily users and to generate at least $7.5 billion in revenue. To attract more users, Twitter intends to roll out additional services.
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