Selling Twitter makes business sense for its promoters. The San Francisco based company was formed in March 2006 and went public in November 2013. But Twitter is yet to make profit. According to a Reuters report, the total accumulated loss of the company since its inception comes around $ 2.3 billion and Twitter has not showed any profit since it went public.
But Twitter is just not any other social media or information technology Company. It has become a powerhouse of news, views and information. Any big news is usually broken on Twitter first, be it Osama bin Laden’s death or Prince William’s engagement or many other such developments. Even back home in India, the whole nation was waiting for Nawaz Sharif’s UNGA diatribe and India’s first official response on it came through Twitter only. Narendra Modi had announced his sudden Lahore stopover on Twitter only. There are countless such examples – India or elsewhere.
The another aspect of Twitter that is goldmine of news and views is that people, especially those who matter, tell their anger, frustration, irritation, joy, happiness, sorrow and what not through Twitter. Sometimes a controversial tweet becomes the biggest trending news of the day. Sometimes a tweet becomes the most direct message to tell your problems and grievances that potentially reach across the spectrum.
In that sense, Twitter has become more like a mainstream media outfit – with the obvious benefits of social media – there are no restrictions, no gatekeeping, no censorship – and these are really free. Yes, there are exceptions and government poaching but then where aren’t they? The good thing about Twitter is that it has fought such censorship attempts vehemently.
If we see Twitter sale in that context – the natural question that comes to us is – “would Twitter remain the same, old, free Twitter after it is sold to some big behemoth with multiple business interests across the countries?”
Don’t we know how big businesses lobby with governments and do compromises to keep their operations growing?