Today, Twitter is officially seven years old, and definitely has a plethora of reasons to celebrate. Founded in March 2006 by Jack Dorsey, the social networking service has become a medium unto itself, with 500 million registered users, 340 million tweets daily, and 1.6 billion daily search queries. How will Twitter continue to innovate in the years to come?
What Twitter is now….
The real question that should be asked is, “what is twitter not?” It has become a platform for everything and anything, including even a toaster with 2,000 followers. For many young professionals, their twitter account is a huge component of their personal brand, and monitoring the amount and nature of their tweets is often strategic. Twitter doesn’t have Facebook’s or LinkedIn’s levels of privatization, however, privacy isn’t its point. In fact, it’s open forum format is the secret to its universal appeal. The ability to broadcast a newsworthy (or not so worthy) story in 140 characters or less to mass public, with the click of the button… well, it’s just plain addicting!
Twitter’s Future as a Global Public Entity…
Simply put, Twitter is being strategic in its partnerships, acquisitions, and restrictions. For instance, Twitter broke off its relationship with Tumblr, believing the microblogging platform does not add to its value proposition and complicates the power it has over “interest graphs.” Essentially, Twitter realizes its unique market positioning and doesn’t want anything or anyone to interfere. Establishing strategic partnerships – like with NBC during the Summer Olympics – has only elevated Twitter to become the giant that it is today. The question remains as to how the company will continue to maintain its market share in the years to come, but for now it appears to be making smart decisions
How do you expect Twitter to have evolved by its 8th birthday?