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Today marks the 10-year anniversary of one of the kings of the social media movement of the past decade: Twitter Inc (NYSE: TWTR). On this day back in 2006, co-founder Jack Dorsey sent out the first ever tweet: “just setting up my twttr.”
Much like its rival Facebook Inc (NASDAQ: FB), Twitter has faced some harsh criticism since going public back in 2013 at $26 per share. The stock is now down about 34 percent from that level, and concerns over user growth stagnation have driven the stock down 64.9 percent in the last year alone.
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Despite plenty of disgruntled shareholders, the 10-year story of how Twitter (originally called “twittr”) went from the single tweet above to the global phenomenon it is today is quite incredible.
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Sure, the market is always looking toward potential future revenue growth. But in the past 10 years, Twitter has managed to grow to the point where it generated $2.2 billion in revenue last year, up from only $28.3 million in 2010.
Unfortunately for investors, Twitter has struggled to translate its revenue and its massive 320 million user base into profits. The company has lost about $2.1 billion in the past decade.
Disclosure: the author holds no position in the stocks mentioned.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.