SAN FRANCISCO -- Twitter earlier this month unveiled a look designed
to be friendlier to new users, hoping to broaden the appeal of the
social media site.
But after issuing a financial report Tuesday that shocked Wall Street, the San Francisco-based micro-blogging site may soon need more than additional users.
To regain the confidence of investors, the company may very well need a new executive team.
The redesign made Twitter's site look similar to Facebook, a main rival (along with Google) in the burgeoning market for mobile advertising.
Twitter has been trying to boost user numbers amid investor worries about the company's growth.
Those worries had depressed the company's stock price (TWTR) for most of last year and put CEO Dick Costolo on the hot seat.
Yet Twitter shares had surged 40% this year as shareholders got more comfortable with the growth plan put forth by Costolo and CFO Anthony Noto, a former Wall Street analyst.
Source: USAToday
But after issuing a financial report Tuesday that shocked Wall Street, the San Francisco-based micro-blogging site may soon need more than additional users.
To regain the confidence of investors, the company may very well need a new executive team.
The redesign made Twitter's site look similar to Facebook, a main rival (along with Google) in the burgeoning market for mobile advertising.
Twitter has been trying to boost user numbers amid investor worries about the company's growth.
Those worries had depressed the company's stock price (TWTR) for most of last year and put CEO Dick Costolo on the hot seat.
Yet Twitter shares had surged 40% this year as shareholders got more comfortable with the growth plan put forth by Costolo and CFO Anthony Noto, a former Wall Street analyst.
Source: USAToday
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