When Twitter Inc (NYSE:TWTR) reshuffles its board, the membership of the board is also likely to increase.
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The stock’s reversal shows that traders are willing to hold off on devaluing the company further, knowing that Twitter executives are putting some skin in the game (albeit very little).
But again, the relevant point here is that Dorsey is a billionaire, and even with Twitter’s stock down about 35% over the last year his stake in the social media company is still worth over $600 million.
On Twitter, Mr Dorsey linked to the Securities and Exchange Commission purchase documents, together with the caption: “Investing in Twitter’s future”. We’re not sure, but Tim Armstrong once spent million on AOL shares when his company was being battered.
Peter Currie, who sits on the company’s board of directors and is leading Twitter’s search for a permanent CEO, also purchased Twitter stock on Friday. Costolo stepped down as CEO on July 1 and the company named cofounder Jack Dorsey as interim CEO. Octafinance tracked institutional investors have historically had a very high interest in the company in focus, and that was also the case in the last quarter.
Dick Costolo didn’t just go away from Twitter Inc (NYSE:TWTR) after he resigned as CEO of the company, but now he is preparing to leave.
Glenn Brown, who oversees Twitter’s content partnerships, released a statement saying, “Over the past two years, NFL content on Twitter has seen best-in-class user engagement rates, and the expanded partnership will bolster the fan experience on the platform”.
Twitter isn’t the only tech company to amp up their sports content this year.
Among other things, Twitter is looking to introduce new products that would make the site attractive for users.
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Twitter plans on using the NFL as part of its strategy to emphasize big, live events. Twitter executives hope that mastering live events will draw people to Twitter without requiring users to master its format and conventions. Twitter’s Q1 revenue came in well below expectations, sending the stock down further. The groups split the revenue from the ads embedded at the beginning of the clips.
