"Just setting up my twttr" – those were the words that Jack Dorsey, founder and CEO of Twitter, tweeted on this day ten years ago to begin yet another social media success story. Twitter, with its simplicity and unique 140-character limit, hit a nerve and quickly gained a following among the tech- and media-savvy. In 2011, Twitter passed the 100-million user milestone and in late 2013 the company went public with huge fanfare.
Everything was well in the Twitter universe, but soon after the company’s successful IPO, the sentiment turned sour. Twitter’s user growth was tapering off quickly and the company continued to lose money. In 2015, Twitter’s share price began to tumble and has been on a downward trajectory ever since. It is becoming increasingly clear that, contrary to earlier projections, Twitter is not a second Facebook and probably never will be.
When Facebook celebrated its 10th anniversary a little more than two years ago, the company was much bigger in almost every aspect. Our chart compares 10-year-old Twitter with 10-year-old Facebook with respect to active user base, revenue, profit and market capitalization.
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