As Twitter searches for a new CEO to renew its standing in the eyes of investors, the company has installed a dedicated product chief to think solely how to make the service better for users.
Jeff Seibert , who has been in charge of the company's developer products, was promoted to take charge of the consumer- facing side of Twitter.
The move will give Kevin Weil , senior vice president of product, the ability to focus on big-picture strategic decisions without getting bogged down by the day-to-day busy work. He has been not only in charge of Twitter's user experience but also the moneymaking side. Mr. Weil will maintain strategic oversight over all of consumer products.
Under Mr. Weil, who is known for his quick execution skills, Twitter has increased the pace of new product features. Even so, Twitter's user growth has continued to flag. Interim Twitter CEO and co-founder Jack Dorsey has said that the product remains hard to use and difficult for people to understand why they should use it all.
Technology news site Recode first published news of Mr. Seibert's promotion. A Twitter spokesman confirmed the news.
Mr. Weil, who rose through Twitter's advertising ranks, in October 2014 became Twitter's fifth product head in as many years.
Prior to his promotion, Mr. Seibert was in charge of Fabric, Twitter's developer platform that launched last fall. He joined Twitter in 2013 after the company acquired Crashlytics, the mobile crash-reporting startup he co-founded.
Separately, on Thursday, Twitter's board is scheduled to meet, and the top item on the agenda is likely the search for a new CEO. Over the course of the three-month search, Twitter has suffered employee defections and flagging user growth. Mr. Dorsey, who is reportedly a leading candidate to stay on permanently, has tried to persuade senior product managers from leaving, according to people familiar with the matter.
(END) Dow Jones Newswires
Copyright (c) 2015 Dow Jones & Compa
Bloomberg: Dorsey a leading Twitter CEO candidate as search continues
Sep 2 2015, 18:17 ET | By: Eric Jhonsa, SA News Editor [Contact this editor with comments or a news tip]
Ahead of a Thursday board meeting to discuss Twitter's (NYSE:TWTR) CEO search, co-founder/chairman/interim CEO Jack Dorsey is still seen as a leading candidate, "people close to the board" tell Bloomberg.
Dorsey's status exists in spite of the fact he remains CEO of Square (set to go public), and that Twitter's board has insisted the company's permanent CEO make a "full-time commitment" to the job. VCs Chris Sacca (previous) and Marc Andreeessen are among those who support Dorsey getting the job.
Search firm Spencer Stuart is said to have reached out to candidates such as ex-Cisco CTO Padmasree Warrior and CBS Interactive chief Jim Lanzone. However, some of those contacted reportedly "don’t think they were seriously considered as candidates, given Dorsey’s position." Meanwhile, sales chief Adam Bain (also a candidate) is said to be "unsure whether taking the job might jeopardize his relationship with Dorsey."
Twitter's shares are down 22% YTD. They recently fell below the company's $26 IPO price for the first time, but have since risen back above it.
LMAO !!! GREAT story ! You should be on Saturday Night Live !!! Greatest lie on the board in a long time.
Surely you have more you can share. Don't stop now, your on a roll !!!
Revenue – Revenue for the second quarter of 2015 totaled $502 million, an increase of 61% compared to $312 million in the same period in 2014. Excluding the impact of year-over-year changes in foreign exchange rates, revenue would have increased 68%.
Advertising revenue totaled $452 million, an increase of 63% year-over-year. Excluding the impact of year-over-year changes in foreign exchange rates, advertising revenue would have increased 71%.
Mobile advertising revenue was 88% of total advertising revenue.
Data licensing and other revenue totaled $50 million, an increase of 44% year-over-year.
US revenue totaled $321 million, an increase of 53% year-over-year.
International revenue totaled $181 million, an increase of 78% year-over-year.
Do you honestly think that you will scare enough people into selling before the market closes tomorrow to make it worth your while ? Best of luck to all TWTR longs !
Can Twitter Catch Social Media Mojo?
By Chris Lange July 25, 2015 9:20 am EDT
Twitter Inc. (NYSE: TWTR) is scheduled to report its second-quarter financial results on Tuesday. The consensus estimates from Thomson Reuters call for $0.04 in earnings per share (EPS) on $481.13 million in revenues. In the same period of the previous year, the social media company posted EPS of $0.02 and $312.17 million in revenue.
The purpose of social media is to network, connect with others and share information and experiences. As one of the larger names in social media, Twitter must stay on the cutting edge of these trends, continually improving its users’ experience as well as its own network. Through a recent partnership with Google Inc. (NASDAQ: GOOGL), Twitter has succeeded in doing both, according to a key analyst.
Canaccord Genuity has a Buy rating for Twitter with a price target of $52, implying an upside of about 45% from current prices.
The brokerage firm thinks Twitter has done well in executing on the initiatives set out during its analyst day back in November. However little traction has actually been made on the user front. Canaccord Genuity thinks there could be a lag between product roll-outs and monthly active user (MAU) growth.
Recently, Twitter has announced or launched several products to help the user experience. Canaccord Genuity believes that the Google integration may have a sizable impact. Google attracts the most traffic of any property globally on desktop and mobile, and visitors specifically to its U.S. mobile search property represent an opportunity to expose 100 million monthly users to Twitter content.
Only a few weeks into the partnership, a proprietary survey from the brokerage firm has shown that real-time tweets already show up in 54% of the Google search queries sampled. Twitter yet again proves its legitimacy as a live news platform, as 90% of news-related searches surface tweets.
Ultimately, Canaccord Genuity only believes that this is #$%$
EVERYONE needs to read this article ... even the shorts are not dumb enough to ignor this info ... this means marketing dollars for TWTR and profit to the bottom line ... there are so many positives that can be used in this upcoming conference call that were missing last quarter ... stay positive my friends ... the share price should be rewarded ... jmho
"Twitter has flaws, having dropped the ball in various key growth ares that could have accelerated the pace at which it can aggressively monetize its platform. But from my vantage point, now is the time to want to own these shares, which have an average analyst 12-month price target of $44, suggesting more than 23% gains from current levels of around $35."
goldcard, if it's true: TWTR's BOD may have hired a new CEO ... just a thought ... jmho
okay ... what puts do you have, what is expiration date, etc. ... I want to be able to hear your screams in Texas on Tuesday morning ...
You should be banned for posting utter b.s. that you know nothing about or have the access to be in the know, one way or the other. Grow up ... one thing I know about you is that you certainly don't even own the stock. If you did you would have enough sense not to post something that you could go to jail for if it turned out to be true ... only an idiot would do this ... just my humble opinion.