Though Twitter is still apart of the holy trinity of social media (Facebook, Twitter, and Instagram), it has lost steam over the past couple of years. A lot of criticism via Wall Street has been directed toward CEO, Dick Costolo for his lack of innovation and vision to create more users and viewership on the site. Costolo dropped this bomb right after replacing most of the board, but after constant badgering from Wall Street Costolo asked the board to replace him as well, effective as of July 1st. Since its inception in 2006, Twitter has changed from a social media site for friends to chat and express thoughts to a more of a business and news platform.
Twitter has recently partnered with the upcoming app, Periscope that might get more people to sign up and come back to Twitter. But with newer apps like SnapChat taking the wheel of the social media, will Periscope do well for everyday users or those with a business or television agenda? After Costolo resigned Twitter stock rose 7 percent and popular companies like Google are looking into acquiring it. The real problem is that Twitter criticism started from within when Twitter investor Mr. Sacca created a blog post analyzing what Twitter could do to be better. The future of Twitter is unsure and, but a rebranding of Twitter should be on the horizon. What Twitter should do to gain a broader following is subject to change as time goes on and the social media realm evolves.
References:
King, H. & O’brein A. (2015, June 11). Twitter CEO Dick Costolo quits. CNN Money. Retrieved from: http://money.cnn.com/2015/06/11/technology/twitter-ceo-dick-costolo-quits/
Goel, V. & Isaac M. (2015, June 11). Twitter CEO, Dick Costolo, is set to exit, feeling heat of criticism. Retrieved from: http://www.nytimes.com/2015/06/12/technology/dick-costolo-twitter-ceo-jack-dorsey.html?_r=0
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