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On Monday, Twitter co-founder Jack Dorsey announced that Parag Agrawal, Twitter’s chief technology officer and architect of the social media platform’s efforts to develop a decentralized and open standard or the social media industry, will take the helm at Twitter.<\/p>\n
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The 10-year Twitter veteran, who holds a Ph.D. from Stanford and a bachelor’s degree from the very prominent Indian Institute of Technology, will now have to balance the projects the company is preparing for the future with the daily challenges of a social media platform that faces intense scrutiny from investors, lawmakers, and activists.<\/p>\n
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The shift to Agrawal’s leadership arrives at a critical time for the company, which is seeking significantly higher revenue and user growth goals for its investors.<\/p>\n
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Twitter’s financial goals include doubling annual revenue to at least $7.5 billion and making more than 100 million monetizable daily users available by 2023. Twitter now has 211 million daily users who can view ads.<\/p>\n
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Twitter is aggressively experimenting with new features and looking beyond ads to boost its revenue. In the US, New Zealand, Australia and Canada, the social media giant launched a new subscription service called Twitter Blue which allows users to undo tweets and read articles ad-free.<\/p>\n