Twitter Inc will launch new features and products faster to revamp its business after years of recession, the company said Thursday, aiming to double its annual revenue by 2023.
The stock rose 3.9 percent to $ 74.71 after seeing an all-time high of $ 80.75.
"Why don't we start with people not believing us," said Jack Dorsey, chief executive at the start of Twitter's Virtual Investor Day presentation. "There are three criticisms: we are slow, we are not innovative and we are not trusted."
The social media network outlined plans, including tipping and paid subscriptions, to "Super-follow" some accounts to reach at least $ 7.5 billion in annual revenue and 315 million daily active users (mDAU), or those who see ads, by the end of 2023.
A spokesman said the "Super follow" feature, which allows users to charge followers for access to exclusive content, would be launched this year.
The site, which is typically used to post text messages to a wide audience, is also trying to create more ways for people to chat.
This is approximately 1000 users tested with 'Spaces' using Twitter audio live discussions feature last month bought hosting and publishing service, allowing you to share content revue longer a newsletter that people using the facility.
It is also considering allowing “communities” to be created for specific interests.
Kayvon Beykpour, Twitter's head of consumer products, said creators can customize communities, including setting and enforcing "social norms" beyond Twitter's rules.
At the virtual event, Twitter's policy chief, Vijaya Gadde, also reiterated the company's support for the open internet. Dorsey said any changes to Section 230, a U.S. law that protects online companies from liability for content posted by users, would need to be done carefully.
Internationally, Twitter faces challenges in India, a fast-growing Sunday that requires social media companies to delete certain content and coordinate with law enforcement.
Twitter had previously refused to delete content linked to protests by farmers in India.