Value skyrockets for Twitter following user spike
A considerable increase in the number of users signing up to use Twitter has seen the social media site’s value skyrocket by £4.1bn.
After monthly active user figures rose to 271m in it’s second-quarter, fears that Twitter may have been dying out have been completely upturned.
Over previous months the social network’s value drastically plummeted, dropping from $40bn to $22.5bn after Christmas but numbers released yesterday let Twitter chief executive Dick Costolo breathe a sigh of relief.
Costolo said earlier this year that he wanted the company to reach “the largest audience in the world, and every person on the planet”.
It is thought that this boost was largely encouraged by a series of new usage updates to enhance member experience but also by the company’s activity during the World Cup this summer.
Although Twitter is still far behind its leading competitor Facebook, this substantial spike is showing sure signs of improvement for the future.
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