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Twitter is just not having a good end to the decade. After disappointing Q4 2016 financial results marred the platform’s active role in the US Elections, a new report now suggests that Twitter is valued less than its Chinese rival Weibo.
Although this isn’t a huge blow to Twitter — after all, it’s blocked in China where Weibo is strongest — it does put into perspective just how far the company has fallen.
Image: Google Finance
According to the Financial Times, it’s not the first indication that Twitter was about to be left in the dust by its Chinese contemporary. October 2016, when Twitter purchasing rumours were abound, came close to dropping the company’s share price below Weibo’s market cap.
Twitter has had a torrid end to 2016 and beginning of 2017, with Weibo now eclipsing it
Back then, Twitter was rumoured to be worth around US$16-billion.
The Chinese micro blogging service isn’t a massive entity in the west, but the company is listed on the Nasdaq Stock Exchange. It also boasts over 290-million monthly active users as of October 2016.
As for Twitter’s user growth, the company gained just two-million monthly active users in the quarter, pushing that number up to 319-million.
H/T: Financial Times