Twitter is an online Social Networking site that allows users to send brief messages to groups of people. it combines elements of social networking websites with instant messaging technology to build networks of users who may connect with brief messages, or “tweets,” throughout the day. A user enters a tweet on a mobile phone keyboard or on a computer and transmits it to Twitter’s server, which forwards it to their followers who have signed up to receive the sender’s tweets. Furthermore, users may choose to track certain subjects by clicking on hashtags (e.g., #movies, #books), resulting in a sort of debate and increasing the number of followers in a given Twitter feed into the millions.
Twitter was launched on March 21, 2006, and the whole product appeared in July 2006. Evan Williams, Biz Stone, and Jack Dorsey was the founder. Seeing a potential for the product, the founders further developed it to make it something big. Hence, Twitter, Inc. was formed as a corporate entity after that as a result of a venture funding injection, and Dorsey became Twitter’s first chief executive officer (CEO). Williams succeeded Dorsey as CEO in 2008. Then he was succeed two years later by chief operating officer Dick Costolo.
In the initial stages, it was a free SMS service platform with some Social Networking components in it. It lacked the clear revenue stream found on sites that earned money from advertising or membership fees. With the number of visitors growing by 1300% in 2009, it was clear, This was more than a niche service.
However, in a year when Facebook started to earn profit for the first time, it remained unclear whether Twitter could attain financial independence from its venture capitals. Twitter announced, “Promoted Tweets”—advertisements that will display in search results—as its principal revenue source in April 2010. That’s how the growth skyrocketed.
Everybody is now aware that the Tesla and SpaceX owner as well as the world’s richest man Elon Musk acquired Twitter. In a few interviews, he had spoken that he was planning to do some major changes to the platform. So some people feel that it may have an impact on the whole twitter community. However, we can’t predict the but to witness the consequences.
Open algorithm – Musk said that the algorithm of this social network giant should open to all.
He is in favor of putting Twitter’s algorithm on GitHub, a prominent website for programmers to share computer code.
Edit option for changing tweets – Musk supports that people should have the right to change their own tweets whenever they want. Unlike Facebook and Instagram, Twitter lacks this option. He said that he will try to implement this feature on this platform.
Throughout the year we have notice how this media was evolve as a Social Networking site. It introduced us to new features with every update. I agree that in the initial time this company had struggled to generate revenue. But we have witnessed the growth of the company. However, with Musk coming along we can expect many new updates and features on Twitter. Lets see what it can bring to us in the coming days.