Boston, MA 04/21/2014 (wallstreetpr) – Twitter Inc (NYSE:TWTR) Twitter is a globally used social networking site that gives a platform to the public to express their thoughts and ideas on a real time basis while connecting with their counterparts across the globe, sharing ideas, discussing them. Twitter has an outreach of nearly 240 million users worldwide through its website and mobile application.
The Company offers Twitter apps for computers, tablets and phones. Its primary source of advertising revenue is a product line encompassing promoted tweets, promoted trends and promoted products.
Latest acquisitions
Twitter Inc (NYSE:TWTR) successfully completed the acquisition of a privately held company called MoPub Inc. MoPub is an advertising exchange which is mobile focused. The acquisition was completed for about $350 million.
It also has acquired Gnip Inc. Gnip offers realtime access to streams of public data from leading social networking sites. With this acquisition, the company is set to take up a new role of packaging and selling data and this is certain to get Twitter more clients across businesses and governments.
The Turkish government has banned Twitter for two weeks following a dispute with the company. This has led to the company closing some accounts in the country. Also, the company has put on shelf for now its plans to open an office in Turkey.
Twitter Inc has made a significant move towards widening its advertising business. It does so by offering mobile advertisements requesting people to install applications on its social network as well as through MoPub. Twitter now aims to reach a billion mobile devices through the MoPub network. This network places ads inside numerous apps.
The company’s user base spans across millions of people across the globe. The spectrum of users also includes well known celebrities from diverse sectors, influential organizations and individuals, brands, media outlets and journalists to name a few. Twitter has well over 100 million daily active users and 230 million monthly active users (MAUs). Its users, on an average, create nearly 500 million tweets daily.
Twitter Inc (NYSE:TWTR) faces competition from other social networking platforms like Facebook and LinkedIn.
