For those of us who use Twitter on a daily basis, and have been reading reports about the social network’s pending doom, some good news has come in.
After all buying interest in the company dried up, Twitter reported earnings that beat estimates and reinforced the faith of its longtime shareholders.
“The world needs Twitter,” said Bijan Sabet, co-founder and general partner at Spark Capital. The Boston-based venture capitalist was an early Twitter investor, and held a board seat until 2011. He’s also a personal shareholder.
Over the past two months companies like Salesforce, Microsoft, Disneyand Google have been mentioned as potential buyers of Twitter.
“I’d like to see Twitter remain independent and build something durable because they have the brand, the user base and the impact on the world to do it,” said Sabet. He has a long-term view on the stock, unfazed by news about layoffs and strategic shifts.
A maturing platform
Twitter is a 10-year old company going through a critical existential crisis.
“They made a mistake by trying to compete with Facebook,” said Henry Blodget, Business Insider CEO. Implying the management failed to understand their own unique product proposition.
“I saw the Cubs win and Twitter went crazy. I saw the debates and Twitter went crazy,” said Sabet, echoing the sentiment.
But on Thursday, after its third-quarter earnings release, CEO Jack Dorsey finally said it.
“We’re focused on building the most useful, open and comprehensive news network on the planet, our product is already revolutionary and we’re working on improving it every single day. We’re making hundreds of small changes as quickly as we can that will continue to compound for more usage.”
To read the rest of the CNBC.com report, click here.
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