Twitter Inc (NYSE:TWTR) is shutting down millions of bot accounts. There were even 20 million fake accounts for sale on Twitter this past summer, according to The Wall Street Journal. Even large media brands like Mashable and CNN are followed by tons of fake accounts. BusinessInsider reports that about 651 million people have opened accounts on Twitter and then abandoned them. Twitter has over 232 million monthly active users and they have disclosed that around 5% of their user base is fake.
eMarketer, a market research company, has reported that around 1 in 5 people around the world uses a social networking website at least once per month. This number is expected to grow over the next few years.
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Twitter has announced on Friday that they have added another layer of security measures for their users, which should protect user data against future compromises on Twitter’s servers. This feature is called “forward secrecy.” It is also used by other Internet companies like Facebook, Google, and Mozilla.
Twitter has decided to roll back a new feature that allow users to receive direct messages from any of their followers. Recently, Twitter added a checkbox to opt in to the feature that was previously found under the account settings, but this feature is no longer there. Twitter users are unable to send a direct message in their follower list if their recipient is no following them back. This was simply just an experiment.
Twitter went public about a week ago and their newest feature since then is called “Custom Timelines.” This feature allows users to create a curation of tweets based on a story about a topic such as what Storify already does. The Custom Timelines are currently only available through TweetDeck and requires hand-curating. Automated Custom Timelines requires custom APIs.
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According to market research analyst company PrivCo, the Twitter IPO created 1,600 new millionaires. Most of the new millionaires were rank-and-file employees. PrivCo tracks the records on private companies and calculated the new millionaires based on shares held by insiders one day after the IPO. PrivCo also calculated that the total tax bill for the IPO was $2.2 billion with the California State Tax Windfall hitting around $479 million.
Instead of Twitter co-founders Jack Dorsey, Biz Stone, and Ev Williams ringing the bell for Twitter’s IPO on the NYSE, it was done by actor Patrick Stewart, Vivienne Harr (a girl that has a lemonade stand where the proceeds are used to fighting slavery), and a Boston police officer. These three rang the bell because Twitter executives wanted to show appreciation towards users of the social network. Stone, Dorsey, and Williams were present for the IPO. Above is the photo.
Twitter is becoming a public company today and the New York Stock Exchange (NYSE) has launched a page to watch it happen live. This is the first time that the New York Stock Exchange is live streaming an IPO or an opening bell since they started 225 years ago. The NYSE partnered with Livestream to set up the live streaming event. You can watch Twitter’s live streaming at: http://nysebigstage.com/backstage/trading-floor-livestream