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Twitter’s board of directors to discuss fate of the company amid rumors of sale

Twitter’s quiet summer may soon be coming to an end as the micro-blogging site’s directors will be discussing Twitter’s future as a standalone company in a meetup that was scheduled today.

  • Published: September 7, 2016 2:15 PM IST
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Twitter has been very working hard to get back its lost position in the social media space. But things look very difficult for the social media giant. The social communication company’s directors are scheduled to meet in San Francisco to discuss its fate as a standalone company. Twitter has been the subject of numerous takeover and acquisition rumours over the last few months with giants like Google and Apple said to be interested. Twitter has seen shares jump on the heels of Microsoft s acquisition of LinkedIn, when Twitter s stock climbed 14 percent. Also Read - Twitter Voice Tweets rolling out for iOS: What are they, how to send

Also Read - World Emoji Day 2021: Twitter reveals 10 most used emojis in 2021 in India

Also Read - Top Tech News today: Realme Watch 2 Pro launch date, Vivo Y72 launched in India, WhatsApp multi-device feature

Twitter is trying to improve its performance, and exploring effective ways of cost cutting. “There are the big corporate names that might take another close look at Twitter, such as Google, Apple and even media mogul Rupert Murdoch, either via 21st Century Fox or News Corp,” a report said. Other possible bidders include private equity firms that may want to take the company private, where it can solve some of its issues out of the public eye. Recently, co-founder and board member Evan Williams said that Twitter needs to “consider the right options” when it comes to its future as an independent company. Twitter’s stock jumped almost six percent after he made these remarks.

According to the report, a Twitter buyer may have to fork out over $18 billion to buy the company. As of June 30, Twitter still had 3,860 employees and paid out $168 million in stock-based compensation last quarter alone, an amount equal to roughly 28 percent of its quarterly revenue. ALSO READ: Twitter reportedly working on keyword filtering tool to fight online harassment

Twitter has been pushing its character limit beyond 140 characters lately, and recently it has made a strong push to grab a bigger share of the video market. Recently in a bid to woo the kind of video creators YouTube has, the micro-blogging website Twitter has decided to share the ad revenue with people making the video content. The company has been reportedly saying that it will allow U.S. users who upload a video to share in any advertising revenue it generates. The idea of Twitter sharing its revenue is targeted at YouTube-style and approved creators who need to simply click a rev-share button when they upload their video and is open only for US users. Unlike YouTube, which gives 55 percent of the money to creators and keeps 45 percent, Twitter wants to keep 30 percent and give away 70 percent to the content creator.

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  • Published Date: September 7, 2016 2:15 PM IST



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