ACC501

Twitter, Inc

History of Twitter
Twitter started in 2006 when the podcasting company Odeo realized they needed to reinvent themselves and began brainstorming new creative ideas. Jack Dorsey introduced the idea of creating an SMS(short message service, texting for example) that would allow a user to communicate with a small group of people.
Twitter was first called "status" until the group looked in the dictionary for names and found twitter which fit it perfectly. The original product name was twttr.
The project work began on March 21, 2006, when Dorsey published the first Twitter message at 12:50 PM (PST): "just setting up my twttr". The prototype for twitter was tested as an internal service for Odeo employees but later launched publically in July 2006.
In October 2006, Jack Dorsey, Biz Stone and Evan Williams formed Obvious Corporation with other members from Odeo. They then bought out Odeo from the investors and other shareholders. In April of 2007, Twitter became it's own company.
Twitter really took off in 2007 when they used a marketing plan to display streaming twitter messages on massive plasma screens at the South by Southwest festival. On that day, twitter usage went from 20,000 tweets per day to 60,000. During that event, Twitter won an award in the Blog category, and Jack Dorsey thanked everyone in 140 characters.
Now Twitter is estimated to have 2.5 million users, with 20 million unique U.S. visitors in June 2009 and 628 million pageviews.

Twitter Net Income
Net Income $-645.32M

Twitter Sales, User /Growth
2013 Sales Growth 109.8%
Twitter Inc.’s second-quarter revenue and user growth topped analysts’ estimates, sending its shares soaring more than 35 percent.
The microblogging company’s active membership in the quarter reached 271 million, with year-over-year growth at 24 percent, compared with 25 percent in the prior period, Twitter said in a statement today. That exceeded analysts’ projections of 267 million monthly active users for the quarter, according to data compiled by Bloomberg. Sales more than doubled to $312.2 million, exceeding the $282.8 million average estimate.
The San Francisco-based company is maintaining its rate of attracting new members after reporting two straight quarters of decelerating user growth. The slowdown, coming so soon after Twitter’s November initial public offering, had stoked investor concerns that the company’s fastest sales growth was behind it. Chief Executive Officer Dick Costolo responded by gutting Twitter’s executive ranks, including replacing his chief financial officer and parting ways with his operating chief.
“People who were negative on the company and on the stock now have reason to reconsider and re-evaluate,” said Scott Kessler, an analyst at S&P Capital IQ. “Twitter has momentum in its business.”
Shares jumped as high as $52.48 in extended trading, after rising 1.8 percent to $38.60 at the close. The stock, which closed at a record of $73.31 on Dec. 26, had plunged 47 percent since then on concerns that Twitter wasn’t growing fast enough to justify its valuation. The company is among the most expensive in technology based on projected 2014 sales.
History Of Corporations
Twitter is an online social networking service that enables users to send and read short 140-character messages called "tweets".
Registered users can read and post tweets, but unregistered users can only read them. Users access Twitter through the website interface, SMS, or mobile device app. Twitter Inc. is based in San Francisco and has more than 25 offices around the world .
Twitter was created in March 2006 by Jack Dorsey, Evan Williams, Biz Stone and Noah Glass and by July 2006 the site was launched. The service rapidly gained worldwide popularity, with more than 100 million users who in 2012 posted 340 million tweets per day. The service also handled 1.6 billion search queries per day. In 2013 Twitter was one of the ten most-visited