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regarding limited revenue. Spawned in 2006 as a side pro ject at the no w-f ailed po dcasting start-up Odeo (an ef f o rt backed by
Blo gger.co m f o under Evan Williams), Twitter has been o n a ro cket ride. The site’s user numbers
have blasted past bo th mainstream and new media sites, dwarf ing the New Yo rk Times and
LinkedIn, amo ng o thers. Repo rts surf aced o f rebuf f ed buyo ut o f f ers as high as $ 500 millio n.S.
Ante, “Facebo o k’s Thiel Explains Failed Twitter Takeo ver,” BusinessWeek, March 1, 2009. By its
f if th birthday the f irm’s 500 emplo yees were suppo rting a glo bal pheno meno n embraced by o ver
two hundred millio n users wo rldwide,P . Kaf ka, “Twitter CEO Dick Co sto lo Talks abo ut His New
P ho to Service, but No t abo ut P ro f its,” AllThingsD, June 1, 2011. including so me 13 percent o f U.S.
adults.B. Wo mack and B. P ulley, “Twitter Use Climbs to 13% o f U.S. Adults Online Bo o sted by
Older Americans,” Blo o mberg, June 1, 2011. In f act, by 2011 Twitter’s reach was so bro...
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This document was uploaded on 01/31/2014.
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