Twitter Leadership Sway comes at a crucial moment

How to Build a Community on Twitter

When Twitter co-founder Jack Dorsey returned as CEO in 2015, he made it plain that the social media business needed to keep reinventing itself.

“The world needs a Twitter that not just stays relevant, but thrives and continues to reinvent what came before it,” Dorsey stated on a conference call that year.

Dorsey gave that task to Parag Agrawal, Twitter’s chief technical officer and a key architect of the company’s endeavor to build a decentralized and open social media standard, on Monday. As the new CEO, the 10-year Twitter veteran, who holds a Ph.D. from Stanford and an undergraduate degree from the prestigious Indian Institute of Technology, will now have to balance the projects that will position the company for the future with the daily challenges of a social media platform that is being scrutinized by investors, lawmakers, and activists.

The appointment of Agrawal as CEO comes at a critical time for Twitter, which is attempting to meet aggressive revenue and user growth targets in order to please investors. Some investors have grumbled that because Dorsey also leads Square, a digital payments business he co-founded, he wasn’t entirely focused on those aims.

By 2023, Twitter wants to double its yearly income to at least $7.5 billion and attract over 100 million monetizable daily active users. Currently, the firm has 211 million daily visitors who see advertisements.

The firm didn’t respond to requests for comment for this article, other than to link to its transition news release and remarks from Dorsey and Agrawal.

Twitter has been experimenting more than ever with new features and going beyond adverts to earn money in order to entice and keep new users. In the United States, New Zealand, Australia, and Canada, the firm launched Twitter Blue, a new membership service that allows users to erase tweets and view ad-free content. It’s also looking into adding tipping, newsletters, live audio, and cryptocurrencies to its service.

In a statement, Jasmine Enberg, a senior analyst at eMarketer, stated, “Twitter is in the middle of switching up its revenue model.” “With the new targeting and privacy measures, the ad industry is experiencing genuine problems, and Twitter is experimenting with other revenue streams to supplement its ad business and reach the aggressive revenue objectives it established last February. The future CEO will be faced with the task of achieving those objectives.”