The Entrepreneurs at Twitter: Building a Brand, a Social Tool or a Tech Powerhouse? Summary Proclaimed as the hottest company since Google and Facebook, Twitter introduced a revolutionary micro-blogging service in 2006 that allowed users to spread and share short messages of 140 characters (“tweets”) with friends and strangers subscribing to follow their communication flow (as so called “followers”) in order to find out what is happening right now from any point of the globe. Raising a total of US$ 155 million from investors without generating a single cent in profit or return on investment, Twitter’s founders Evan Williams, Christopher Isaac “Biz” Stone and Jack Dorsey relied essentially on their investors’ patience and goodwill while …show more content…
The notion that when a service is of value, it should also have a value and charge for this value was more or less ignored or remained in the background. Given that investors were easily persuaded of the service’s worth, assuming that “where you have audiences, you will make money”, the US$ 155 million injection gave Twitter’s founders some peace of mind, ensuring them that they had “patient investors” and enough funds to continue building the company. However, it is understandable that investors will expect Twitter to come up with a sustainable business model and a presentation of the ways and plans to achieve the highly set targets. Even if Williams stated to journalists to wanting to go all the way with Twitter and to have as large an impact with this service as possible, he simultaneously revealed to already be thinking of the next big thing which substantiates suspicions that his commitment to Twitter’s profitability isn’t his main concern. This clearly exemplifies the extent to which Twitter’s situation in 2010 reflects the past record of its founders. Given that they were working to make ends meet while pursuing their real passion on the side – to find the next big thing – their success came as a byproduct of their pursuit of originality, not as a fully intended and envisioned result of planned moves toward
Twitter; a social media platform which connects millions of people together, is one of many
Twitter is one of the most popular social media outlets in the world, having the ability to connect people from all over the world. Though the platform may have its perks, problems such as being limited to using very few characters, being fooled by fraudulent users, and being a detriment to your future career are all risks that one must choose to take. While Twitter may offers many benefits, one must realize all of the consequences that they may be faced with when joining the social media
One of the advantages of twitter is a very simple and educational social network. This allows to be aware of everything that interests you, such as communities, celebrities, or just people who are not famous, but they write very interesting things. Although the twitter is a social network where you
In The Saint Louis Post-Dispatch, Stone emphasizes Twitter's punishment in harsh tone in hopes to spread awareness in the urgency to change these careless entities running social sites such as twitter. Stone surfaces the need for outside parties intervening Twitter’s management skills and declares the, “...setup [of] a security program that will be audited by an outside company,” proposing the sites monitors and management teams were unskilled and negligent (Stone). The desperate call for help exposes the corrupt business practices of the social network. This case sheds light on similar issues leading twitter to believe "we think [the FTC] saw it as an opportunity to make an example of us in the hopes of curtailing breaches - including those many more serious than ours - in our industry" (Stone). Emerging the existence of conflicting cases surrounding the entire industry, Stone further builds an argument in agreeance with Kafka’s Bureaucracy, suggesting the whole industry of social networking sites to be fraudulent in the interest and pursuit of the privacy of data
Twitter one of the most popular social networking sites. Both personal and corporate users enjoy twittering to engage in information-sharing. It has social as well as commercial utility. However, as is also the case with Facebook, Twitter is still striving to make its business model profitable as well as generate user traffic. Advertisers and marketers are interested in Twitter's ability to provide data about potential customers as well as its ability to expose users to advertising. However, there have been a number of concerns regarding the monetization of Twitter. Twitter's potential for 'data-mining' is alarming to many users. "By virtue of having a large number of users, Twitter also possessed such a database of personal information, as well as a large archive of personal messages" (Privacy issues and monetizing Twitter, 2011, Richard Ivey School of Business: 6).
Mark W. Shaefer is a successful businessman that built his company while spending zero dollars on marketing. “I built my entire business without spending a dime on advertising or marketing in three and half years. All of my business has come from my blog, Twitter, and LinkedIn.” (Bell 34) By using the platforms that many individuals visit on a daily basis, free business exposure is created. “Social media is rapidly replacing traditional media as a source to which consumers turn for information about products and brands.” (Brison 309) Much like in the past, consumers want to learn about a product before purchasing it.
Twitter is used for staying connected with followers and promoting products, news, and corporate blog posts. They also use it to share content. One use of twitter is to share the current news in the industry. Along with this, they also post news that links users who click on it back to their website and to their blog. Pepperl+Fuchs uses their blog on their website as their main source of promoting products and dealing with customers. Another use for twitter is linking them with their partnering companies and helping promote them as well. For example, one tweet was, “Intertek collaborates with Pepperl+Fuchs on first hazardous locations panel shop project.” This linked users to a page on the Internet that talked about the partnership created and the project that was on hand. This example also ties into the idea of Pepperl+Fuchs using Twitter to share news. Overall, they use twitter to welcome new followers and create a community to share ideas and news about Pepperl+Fuchs, but their tweets mainly consists with links that take the user back to their blog or to articles on their
It began as “a system where you could send a text to one number and it would be broadcasted out to all of your friends…” Then five months after Twitter’s launch, an earthquake in San Francisco happened- except this earthquake had people who were experiencing it using Twitter to share their stories, which led to another group of people who heard about the earthquake using Twitter to get information from a place they were not in. These were not the only groups of people using Twitter during the earthquake, but they are the best example of interpretative flexibility. Two groups of people both using the same app, but for one group it’s a means of sharing information and for another it was about collecting that information—and that right there was the basis of Twitter. Closure took hold for a while because even though the app was still used to communicate with friends, it became more of an information sharing platform than it used to be. Then, more groups joined and the use of Twitter changed again. The rise of social media created a new way to interact and soon led groups of investors, celebrities, politicians, scientists, and even soccer moms to use the site to network, advertise products, educate themselves, and start important conversations. Twitter was no longer just a place to trade information, it became a business. And as newer generations of people begin to download Twitter, it will change again. Currently, the majority of Twitter users are shaping this application by using it as a political platform to share, stop, and acknowledge injustice. Yet, just a year ago, it was more often than not a place where people got their first reports of natural disasters, sport scores, celebrity deaths, and spoilers of popular television shows. It was not a place where you would see people from all types of different groups fired up over politics and state of the world in the extent as it seen today. And yes, Twitter
Due to the power of instantaneous and free connectivity, social media has grown tremendously since 2006; causing more and more people to reap its benefits. Social media has both positive and negative impacts on society. Its various platforms have encouraged expression, and increased political awareness. Although, many worry about privacy and fraud, powerful measures have been taken to help and protect citizens. But, the question remains: do the positives outweigh the negatives in society as a whole? In other sectors social media has remained, however, specifically, the business world has transformed. Businesses and owners change for the better by providing a stronger connection with their consumers, creating new jobs, maintaining a positive brand image, and increasing consumer
We believed that our customers would enjoy the peace of mind to continue working with the company they knew and trusted but now they gain experienced individuals who will be able to take their social media campaigns to new levels faster than we could have done on our own.
All business planning should start with defining clear goals, and social media is no exception.
To the average technologically advanced American, Twitter is one of the most visited social media sites. From a popularity contest standpoint, Twitter would be amongst the top winners; however, when evaluating Twitter from a business analytical aspect it might not be a lucrative business venture. The attractive attribute to Twitter Inc. is the fact the sites does not make any of its users pay. Twitter is designed to allow users to voice multiple thoughts, ideas, or share different information amongst the site’s visitor. Unlike Facebook, Twitters does not have multi-million dollar corporations using the site on a regular basis to market more potential users. Therefore, with a low revenue base and poor strategic development implementation
We cannot deny how big of an impact social media has on our lives now, not only on people but businesses too. It has opened a whole new door to the business world and given them a big opportunity to interact and attract a larger amount of customers. It’s given us a new and faster way of communication by exchanging pictures, stories, news, blogs, online discussions, etc. In exchange businesses have benefited by a long shot just by the click of a button. With the help of the Internet a company no longer is dependent on a particular customer base to survive because now it can reach out to a worldwide audience within seconds. It’s imaginable the countless business attributes of all social media to this day and still is growing. Social media
I would like to introduce you to Twitter Inc., a modern and popular form of self-expression on the Internet. It provides users with a plethora of services including Twitter, an application that allows the user to share and distribute content to their followers. The company also owns Vine, a mobile application where users can create and share short looping videos, and #Music, another mobile application that
Twitter is a service for people to communicate and stay connected through the exchange of quick, frequent messages. It's an online social networking and micro blogging service that enables users to send and read short 140 character text messages, called "tweets". Twitter is a social website where people are allowed to make posts about different things. Twitter has 645,750,000 registered users as of January 1, 2014. Twitter is now stepping up to global television. Micro blogging is the posting of very short entries or updates on a blog or social networking site, typically via a cellular phone. Twitter allows its users to keep their friends and family informed of their current status. Twitter first began in 2008 as a small project; but now