The concept of
utilising an SMS service to connect with a small number of individuals was
developed by Jack, an undergraduate student at New York University at the time.
Noah proposed using the term "twitter" for the service's project
code. It was inspired by flickr, and the company purchased the domain
twitter.com six months after twitter's official launch. It's also important to
note that 40404 was chosen as the shortcode instead of 10958 for ease of use
and memorability on March 21, 2006, when Jack published a tweet introducing
twitter and explaining how the name "twitter" came to be.
Jack subsequently said
that the name "twitter" was "simply great" since its
definition was "a brief burst of insignificant information and chirps from
birds," which perfectly described the product. On July 15, the entire version
of the Twitter service was launched as an internal service for odeo employees.
In October of the same year, Evan Biz and other odeo members founded the
obvious corporation, which went on to buy odeo, including its assets
twitter.com and odeo.com. Then, Evan fired glass; it's important to note that
until 2011, Glass made no more mention of his Spartan Twitter account.
Twitter started a corporation in April 2007. The use of this social networking site surged from 20 000 postings per day to 60 000 tweets per day at the 2007 South by Southwest Interactive festival, which marked a significant shift in its popularity during that year, according to Newsweek. Hundreds of conference attendees kept track of one another through constant tweets, according to Stephen Levy, who claimed that the twitter team cleverly installed 2-inch 60-inch plasma screens in the conference hallways exclusively streaming twitter messages. Additionally, several speakers and panellists mentioned it, and the response from conference attendees was extremely positive, which boosted twitter's usage.
The staff of twitter
even won the web award prize of the festival with the phrase "We'd like to
thank you in 140 characters or less and we just did" In January 2010, a NASA
astronaut named Tj Creamer sent the first unaided tweet from space while he was
aboard the International Space Station. That same year, Adam Bain from fox
audience network was named as Twitter's president of revenue.
When it comes to social
media networking sites, Twitter is the third-highest ranked platform in 2009.
The following year, users were posting 50 million tweets daily, and by March
2011, nearly 140 million tweets were made each day. In 2007, there were about
400 000 tweets posted on the platform each quarter, and that number increased
to 100 million tweets posted each quarter the following year.
As an example, during the 2010 FIFA World Cup,
fans tweeted at a rate of 2,940 tweets per second in the 30 seconds following
Japan's goal against Cameroon in June. When Michael Jackson passed away in June
2009, Twitter experienced service outages as users updated their statuses to
include the words "Michael Jackson," averaging 100,000 tweets per
second at the time.
In 2010, the business
acquired the tweet for iPhone and Mac software developer eight bytes. The
official Twitter client for Mac, iPad, and iPhone is currently known as
twitter. The company tested a new home page the following year, and eventually
the old Twitter was phased out by 2012. In 2012, Twitter expanded to Detroit
and Dublin, and a new logo was unveiled. In October of that year, the company
began rolling out new Twitter. This updated version of Twitter.com allowed
users to view images and videos without leaving the site.
The business went on to buy Card Spring, Snappy TV Niche, Periscope, Telepart, and Magic Pony the following year. It also released a music app for the iPhone called Twitter Music. It is important to note that the company noticed an increase in the spread of false information about the coronavirus on Twitter during the pandemic last year. As a result, it eventually began flagging tweets that might contain false information. In July, a significant hack on Twitter affected 130 high-profile accounts, including those of Elon Musk, Bill Gates, and Barack Obama. Twitter acquired the review final thoughts email newsletter service in January 2021.
Elon
Musk Bought Twitter:
The company decided to
offer him a seat on its board, and for a few days it looked like he would join
but the day his appointment was supposed to become official he spent nearly
three billion dollars quietly amassing a 9.2 percent stake in the company
almost overnight he was Twitter's largest shareholder inside Twitter the
investment immediately prompted concerns He prepared for an aggressive takeover.
Three days after
Twitter announced that musk had rejected their invitation to join, musk changed
his mind once more and offered to acquire the entire firm for $54.20 per share
in the market. Musk was already discussing his ambitions for the company. There
was more going on behind the scenes; we now know from musk's text messages that
Twitter founder Jack Dorsey had been quietly pushing to get musk involved for
years. He intended to make its recommendation algorithms open source and relax the moderation policies. He also promised to do away with permanent bans
except for Bots and scammers, which he wanted to purge once and for all.
Dorsey, who has stated that Twitter shouldn't be a corporation at all, believed
Musk could repair what he couldn't. The two exchanged ideas for weeks prior to
Musk making his offer, and Musk grew more irate with Twitter's board and CEO
Parag Agrawal. There was more going on behind the scenes; we now know from
musk's text messages that Twitter founder Jack Dorsey had been quietly pushing
to get musk involved for years. He wanted to loosen its moderation rules and
open source its recommendation algorithms. He also promised to do away with permanent
bans except for Bots and scammers, which he wanted to purge once and for all.
Dorsey, who has stated that Twitter shouldn't be a corporation at all, believed
Musk could repair what he couldn't. The two exchanged ideas for weeks prior to
Musk making his offer, and Musk grew more irate with Twitter's board and CEO
Parag Agrawal.
Unsurprisingly,
Twitter's leadership wasn't enthusiastic about Musk's offer at first. In fact,
the company's boards seemed like they might try to fight the Takeover. However,
after Musk secured billions of dollars in financing from Banks and investor
friends, 44 billion dollars was just too good to turn down. Eleven days later,
Twitter's board approved Musk's offer.
The firm informed staff
that Twitter would become private and that Musk would be in charge, and Musk
then began tweeting about bots and phoney accounts. Cleaning out Twitter's Bots
was one of his main goals for purchasing the company, Musk claimed, but as
their lawyers work to close the deal, Musk started demanding Twitter provide
more information about just how many Bots were on the platform. Bots frequently
clog up his replies. Cryptoscammers impersonate him. One even hacked his
account.
Twitter has claimed for
years that less than 5% of all users are bots, but Musk, who sees far more bots
than most, wasn't persuaded and said the agreement was currently on hold. Musk
also demanded more specific information from Twitter regarding bots. Although
Twitter complied and even made an effort to publicly explain how it deals with spam
and fake accounts. Agrawal , Musk, and Aggro were
unmoved, and he responded to their tweets with a poop emoji. It had been almost
three months.
As a result of Twitter
accepting musk's offer and musk publicly accusing the company of lying, musk
wanted to leave but Twitter needed musk because the company's stock was
declining and was worth much less than the 44 billion dollars musk had agreed
to pay. As a result, Twitter sued musk, and a five-day trial in Delaware's
Chancery Court was set for October. Twitter intended to compel Musk to uphold
his promise since its shareholders had authorised the takeover. Days before the
trial was set to begin and shortly after embarrassing text messages were
revealed in court documents, Musk, who had initially agreed to the deal without
conducting any due diligence, claimed that Twitter had misled him. Musk then
cautiously agreed to buy the company after all, and Twitter and Musk ultimately
finalised the deal one day before a court order deadline.
However, just because
the deal has closed doesn't mean the drama has ended. One of his first actions
was to fire several of Twitter's top executives, including Agrawal and
the company's top policy maker. He is also reportedly planning much deeper Cuts
and could lay off as much as 50% of all staff. Twitter is now once again a
private company, and Musk is now in charge. In addition, Musk has ambitious plans to alter the platform itself. He wants to create a moderation council to provide input
on content policies, and he's likely to lift many previous suspensions,
including that of Donald Trump. At the same time, he has communicated to
advertisers that he doesn't want Twitter to devolve into a free-for-all
hellscape and that he wants to improve its ads. Additionally, he wants to
update Twitter's subscription services and has proposed adding fees for
verification and tweet embedding.
He's even thinking about bringing back Vine, the beloved short-form video tool that Twitter shuttered in 2016. One of his advisors has recommended enabling businesses to pay to DM users. And although it's unclear how many of these suggestions will ever materialise, it's evident that musk intends to use his influence as Twitter's most well-known user to change the social media site.
Conclusion:
Twitter's market
capitalization as of November 2022 is $41.09 billion. According to our
research, this places Twitter as the 410th most valuable corporation in the
world.