Twitter sets eyes on ambitious leap in user growth

NEW YORK: Twitter, the microblogging platform and tech giant, is setting its eyes on an ambitious target of user growth even as the deal with Elon Musk remains uncertain.

Reuters said that an internal meeting saw Twitter consumer products division telling staff that the company is aiming to grow its monetizable daily active users by 13 million this quarters. This segment represents users who see advertising on the platform.

The staff was told that this was the highest goal the team has ever set.

They added that Twitter is on track to reach the goal and has currently achieved 8.5 million in user growth, one of the best growth quarters to date.

Shares of Twitter rose 1% in afternoon trading.

Elon Musk has offered to acquire Twitter for USD 44 billion but he has warned that he would walk away from the deal if Twitter doesn't provide data to allow him to independently verify the proportion of spam and fake accounts on the social media platform.

Twitter has already said in its public filings that spam and fake accounts represent fewer than 5% of quarterly monetizable daily active users.

Reuters said that a spokesperson for Twitter declined to comment.

Twitter had added 20 million users in the secondd quarter of 2020, as users gravitated towards the platform to acquire news at the start of the pandemic. It was Twitters highest quartely sequential growth since at least 2019.

Twitter's internal goal of 13 million in user growth exceeds Wall Street's expectations.

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