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Unformatted text preview: p the service sho rtly af ter signing up.D. Martin,
“Update: Return o f the Twitter Quitters,” Nielsen Wire, April 30, 2009. This raises the questio n o f
whether Twitter is a durable pheno meno n o r just a f ad. P undits also wo nder if revenues will ever justif y its initially high valuatio n (by 2009 the f irm was
said to have been wo rth $ 1 billio n; by 2011 shares trading o n private seco ndary markets suggested a $ 10 billio n valuatio n).D. Rushe, “Twitter Valued at $ 10bn as Go o gle and Facebo o k Repo rtedly
Vie to Buy It,” Guardian, February 10, 2011. Others wo nder if rivals co uld usurp Twitter’s ef f o rts
with similar f eatures. Thus f ar, Twitter has been f o llo wing a “gro w-f irst-harvest-later” appro ach.J.
Murrell, “Twitter Treads Gently into Advertising Minef ield,” San Jo se Mercury New s, April 13,
2010. The site’s rapid rise has allo wed it to attract eno ugh start-up capital to enable it to appro ach
revenue gradually and with cautio n, in the ho pes that it wo n’t alienate users with to o much
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