SINGAPORE (Oct 14): Twitter is 10 years’ old, but the social media company’s fortunes are flagging in contrast to social network juggernaut Facebook.
Despite much talk about a potential suitor snapping up the social media platform, it has been left at the altar by an array of tech giants and private equity firms. Twitter’s share price too has dropped 30% as a prospect of a sale fade.
A lack of coherent strategy has dogged Twitter, with monetisation even more challenging than ever. Twitter has 313 million monthly active users a month, a drop in the bucket compared to Facebook’s 1.7 billion monthly active users.
On the financial front, Twitter’s revenues has hit the brakes, from growing 58% last year to forecasts of 11% growth this year, less than half of Facebook’s 35% forecast. While former co-founder Jack Dorsey has been brought back to right the ship, efforts seem to have faltered, and the pressure is on to line up a suitor.
All of this is happening against the backdrop of an evolving global tech environment, as investors hunt for growth in a low or negative interest rates world. Does Twitter stand any chance in surviving on its own?
Read the full story in The Edge Singapore (Issue 750, October 17). Available at major bookstores, 7-11 stores, and selected petrol stations today.
