Twitter, Inc. is an American social media company based in San Francisco, California. The company operates the social networking service Twitter. It previously operated the Vine short video app and Periscope livestreaming service.
Twitter was created by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in March 2006 and was launched that July. By 2012, more than 100 million users tweeted 340 million tweets a day,[13] and the service handled an average of 1.6 billion search queries per day.[14][15][13] The company went public in November 2013. By 2019, Twitter had more than 330 million monthly active users.[16]
On April 25, 2022, Twitter agreed to a $44 billion buyout by Elon Musk, CEO of SpaceX and Tesla, one of the biggest deals to turn a company private.[17][18] On July 8, Musk terminated the deal.[19] Twitter's shares fell,[20] leading company officials to sue Musk in the Chancery Court of Delaware on July 12.[21] On October 4, Musk announced his intention to purchase the company as he had agreed, for $44 billion, or $54.20 a share;[22] the agreement closed on October 27.
Following Musk's takeover, Twitter has been criticized for an increase in hate speech,[23] as well as for perceived systemic prioritization of right-wing content.[24][25][26][27] This was followed by advertiser moratoriums, mass dismissals and mass resignations.[28][29][30][31][32] After his acquisition of the company, Musk immediately dismissed numerous top executives.[33] On November 3, Twitter laid off approximately 3,700 employees, or about half of their staff. In the following week, the company's security, compliance, and privacy executives resigned.[34] On November 16, Musk sent an email to remaining employees outlining a shift in the work culture of the company and requesting employees opt-in or leave by November 17, leading to hundreds of additional resignations.[35]
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