June 8, 2022
Twitter’s consumer products division leaders are preparing the company for its most ambitious quarter of user growth as it seeks to increase its monetizable daily active users by 13 million, according to an internal meeting.
Although Elon Musk’s decision to buy the company appears shaky at the moment, the company is still on track to achieve its goal, having already gained 8.5 million users.
Twitter added 20 million users in the second quarter of 2020, the highest quarterly growth since 2019. Since achieving this feat, the company has struggled to stay on track to meet its longer-term goals for user growth and revenue.
Twitter’s internal target of 13 million users exceeds Wall Street’s expectations, as analysts had expected an average of 9 million.
Although Twitter is the most popular app for the world’s most influential celebrities and politicians, unlike its counterparts Facebook and Instagram, it failed to generate substantial advertising revenue.
Elon Musk’s decision to buy Twitter is aimed, among other things, at boosting the social media company’s revenue.
The sources for this piece include an article in Reuters.
