It also set bold, three-year growth targets at its investor day in March, and declared it could grow its mDAUs to "at least" 315 million by the end of 2023 and more than double its annual revenues from $3.7 billion in 2020 to "over $7.5 billion" in 2023. Twitter's business remained resilient throughout the pandemic even as companies purchased fewer ads. Twitter attributed that growth to its international expansion, its increased usage as a platform to discuss current events, and the rollout of new ad formats with more focused targeting methods.ĭorsey's focus on improving the engagement rates among a smaller audience of more active users - instead of aggressively growing its MAUs - stabilized Twitter's revenue growth over the past four years: That count rose to 152 million at the end of 2019, 192 million at the end of 2020, and 211 million in the third quarter of 2021. Twitter ended 2018 with 126 million mDAUs. The new figures exclude the fake, spam, and bot accounts which were inflating the number of MAUs. After Dorsey returned, Twitter's MAUs only rose slightly, to 319 million in 2016 and 330 million in 2017.Īt the end of fiscal 2018, Twitter stopped disclosing its MAUs and started reporting its monetizable daily active users (mDAUs) instead. However, it finished 2013 with just 241 million MAUs, and that figure rose to just 317 million by the end of 2015. At the time of its IPO, Costolo wanted Twitter to grow its MAUs from 185 million at the end of 2012 to 400 million by the end of 2013. When Dorsey took over, Twitter was struggling to grow its monthly active users (MAUs). In 2015, he stepped down, and Dorsey returned as Twitter's CEO but without giving up his CEO position at Square. However, Costolo struggled to grow Twitter's users and revenues after its public debut. At Twitter, Dorsey was succeeded by the company's co-founder Evan Williams, who handed the reins over to his chief operating officer Dick Costolo in 2010 ahead of its initial public offering (IPO) in 2013. Dorsey co-founded Square (NYSE: SQ) the following year and remains the fintech company's CEO to this day. Dorsey was reportedly dismissed due to concerns about his leadership abilities and his tendency to be distracted by outside hobbies. Jack Dorsey co-founded Twitter in 2006 and served as its CEO until he was ousted in 2008. Let's take a look back at Dorsey's accomplishments at Twitter and his reasons for stepping down, and consider whether this leadership change will help or harm the company. The bulls and bears seem fiercely divided about Dorsey's departure, and Twitter will likely remain a battleground stock for the foreseeable future. The social media company's stock initially soared by as much as 11% following Dorsey's announcement, but still ended the day down nearly 3%. Parag Agrawal, the company's chief technology officer, will succeed Dorsey. 29 after CEO Jack Dorsey abruptly announced his resignation. Twitter's (NYSE: TWTR) stock took investors on a wild roller-coaster ride on Nov.
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