Tags: twitter | 2 billion dollars | lost

Twitter: $2 Billion Has Been Lost Over a Decade of Operation

Image: Twitter: $2 Billion Has Been Lost Over a Decade of Operation
A photo taken in the western French city of Rennes on November 7, 2013 shows an official Twitter account on a smartphone. (Damien Meyer/AFP/Getty Images)

By    |   Wednesday, 02 Mar 2016 08:13 AM

Twitter revealed Monday that it has lost more than $2 billion since launching 10 years ago, adding that the number of people signing up for the social network has slowed.

"Since our inception, we have incurred significant operating losses, and, as of December 31, 2015, we had an accumulated deficit of $2.09 billion," the company wrote in its annual 10-K filed Feb. 29.

"Although our revenue has grown rapidly, increasing from $28.3 million in 2010 to $2.22 billion in 2015, we expect that our revenue growth rate will slow in the future as a result of a variety of factors, including the decline in the growth rate of our user base."

Twitter has more than 300 million monthly active users around the globe, but Facebook has long dominated the social media sphere with 1.5 billion active users. Last year, Instagram surpassed Twitter's numbers, and Snapchat, a very young, mobile-only social network, likely has around 200 million users.

If Twitter cannot accelerate its user growth, it may eventually find itself in last place among the world's largest social networks.

The company details in the filing some of the challenges that lie before it.

"Despite our efforts to reduce barriers to consumption, people who are not our users may not understand the value of our products and services and new users may initially find our product confusing," the company wrote.

That statement echoes those of Twitter's critics, and have been acknowledged by both the former CEO and current CEO, Jack Dorsey.

In addition to confusing many new users, Twitter employees and executives have also said that harassment can keep potential users from signing up, or in some cases drive away existing users.

In an effort to reduce harassment on the network, the company has instituted more oversight and reporting tools. Many critics have said, however, that those measures have come at the cost of free speech.

"Twitter recently formed the Orwellian-named “Trust and Safety Council” to propose changes to the company’s use policies. The goal, according to a press release, was to find a middle ground between permitting broad free speech and restricting actual abuse," the New York Post reported last week.

"But practically none of the 40 people chosen to be part of the council are all that concerned about free speech. In fact, most of them work for anti-harassment groups and seem likely to recommend further limitations on online expression."

© 2017 Newsmax. All rights reserved.

 
1Like our page
2Share
TheWire
Twitter revealed Monday that it has lost more than $2 billion since launching 10 years ago, adding that the number of people signing up for the social network has slowed.
twitter, 2 billion dollars, lost
400
2016-13-02
Wednesday, 02 Mar 2016 08:13 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved