From one of the leading social media to struggling social media

Twitter was founded in 2006 by Jack Dorsey, Evan Williams, Noah Glass and Biz stone. Biz stone and Evan Williams are ex-googlers and wanted to start something on their own and joined with the other two folks. They first designed a podcast application called Odeo which gives the podcast streaming. The application is shelved even before hitting the grounds as Apple has announced itunes software and podcast in 2005 where odeo is still in testing phase. These four people understood they need to start different but again from the beginning and then is when Twitter came in to existence and turned out to be the most successful startup in 2000’s. The company has went for IPO in 2013 and it was valued at 18 billion dollars where each share price is decided as 18 dollars. There were times that the share price hit a maximum life time price of 69 dollars too. The same company is seeing a lot of downgrade in the share value as low as 14 dollars and also very slow pace in new signup. The company has more than 3500 employees worldwide but it has terminated more than 1200 employees in the past 6 months and closed its offshore centers in the countries like India. These scenario mainly happened as twitter failed in picking up the changes and also the differences in the board members.