![]() ![]() 14 One user wrote, “The fact that Twitter continues to crash during times like this arises from nothing short of poor planning on the part of the company.” 11Ģ008 wasn’t much better as Twitter crashed during Steve Jobs' keynote at Macworld Expo. This brought investors like Peter Fenton of Benchmark Capital and Todd Chaffee of Institutional Venture Partners. In February 2009, Twitter announced a $35 million Series C funding round at a $250 million valuation. Existing partners Union Square Ventures and Digital Garage invested more money. ![]() 10 Bijan Sabet of Spark Capital also came on board. In June 2007, Twitter raised a second round of funding and included Amazon’s CEO Jeff Bezos. The round was led by legendary investor Fred Wilson of Union Square Ventures. 8 Three months later, Twitter announces a $20 million funding round. ![]() Tech investors were also enthusiastic about Twitter’s new positioning and directionįirst, Twitter spun off from Odeo and became its own company in April 2007. Twitter made it easier for people to be where they needed to be. Yet you might miss these moments if you’re not in the right place at the right time. The team uncovered Twitter’s positioning and value proposition: the ability to be the first to know what’s happening now.Įvents are a powerful means of getting new users as they offer a lot of exciting things happening at the moment. In September of that year, the founders launched Twitter at Love Parade, 7 gaining some traction. I’ve been playing around with someone else’s account until I can figure out how to get my number sorted out.”Įven with Arrington’s hesitations, the Twitter team continued with their launch. The result was a lockout of my phone number. “Someone added me to Twitter at the same time I tried to register directly. 6 Arrington enjoyed the product, but there were issues with self-sign-up. In the summer of 2006, Twitter received coverage from Techcrunch’s founder, Michael Arrington. And it’s why Oreo’s humorous tweet about the 2013 Super Bowl blackout may have reached more fans than the $3.8 million ads. It’s why celebrities found the platform beneficial for sharing their latest events with their fans. This is why Twitter became popular at events like South by Southwest. In 2006, Jack Dorsey stumbled upon what became Twitter’s value to its users: the ability to get lightning-fast updates about news and events. Phase 1: Twitter's positioning strategy to differentiate from competitors Little did Dorsey know that people’s desire to keep up with the status of events was the foundation of Twitter’s positioning strategy, which takes us to phase 1. Their vision? “We're making it easy for you to discover, create, and subscribe to fresh, independent audio content,” according to a March 2005 archive of Odeo. Twitter's timeline: How Twitter was foundedīefore Twitter, ex-Google employees Evan “Ev” Williams and Noah Glass attempted to launch Odeo, a podcasting platform. To see how Twitter built its successful growth engine to $44 billion, we first need to understand Twitter’s history and beginning. Finding the right go-to-market strategy & growth channels.Mastering the brand positioning strategy.What is it that the Twitter team knows about building a growth engine & scaling tech companies that others don't? After extensive research, I was able to uncover that Twitter's success comes down to a simple 3-phase process: Pinterest found success after 9.5 years.And 10 years after that, Twitter sold for $44 billion to Elon Musk.īecoming a billion-dollar company is a feat other social networks took longer to do: In just 7.5 years, Twitter went public on the New York Stock Exchange and minted 10 billionaires. Twitter has a secret formula for creating a billion dollar company that most people can follow in three phases. ![]()
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