In the news this week - Instagram reaches 700 million users, Pinterest looks to reinvent itself and Twitter wants to live-stream 24/7…
Twitter shares rise as users grow at higher-than-expected rates
Shares in Twitter surged more than 10 percent this week. Alongside better than projected revenues and earnings, investors cited an increase in users. The social network, which struggled to grow its user-base in line with rival networks throughout 2016, said it was “proud to report… accelerating growth in daily active usage for the fourth consecutive quarter, up 14 percent year over year.”
Although no actual numbers were released for daily active users on the network, Twitter announced that monthly active users were 9m more than the previous quarter at 328m, 7m more than expected. Chief executive Jack Dorsey said this:
“While we continue to face revenue headwinds, we believe that executing on our plan and growing our audience should result in positive revenue growth over the long term.”
Twitter’s ambitions to live-stream 24 hours a day
Twitter is making a stand to increase its dominance in the world of social networking live streaming with plans to broadcast news, sports and entertainment 24 hours a day. Twitter COO and CFO Anthony Noto spoke about the company’s ambitions in an extensive interview with BuzzFeed News:
“We will definitely have 24/7 content on Twitter… Our goal is to be a dependable place so that when you want to see what’s happening, you think of going to Twitter.”
New app helps Instagram users choose a caption for their photo
Former Made In Chelsea star Amber Atherton has launched an iOS app that uses computer vision technology to offer up potential captions for photos. Rubric, which has already been downloaded over 7,000 times, attempts to detect what is in a photo, allows users to choose a subject, before suggesting captions such as quotes, phrases and song lyrics.
Instagram reaches 700 million users
Instagram looks set to be Facebook’s next venture to reach 1 billion users. The social networking app has gained an additional 100 million monthly active users in the last four months, putting the total at 700 million active users a month. The team said this on the Instagram Press Blog:
We’ve made it even easier for people across the globe to join the Instagram community, share their experiences and strengthen connections to their friends and passions. With new features like stories, live video and disappearing messages in Direct, people now have more ways than ever to express themselves and feel closer to what matters to them.
Pinterest looks to reinvent itself with major ad campaign
Pinterest is hoping to reinvent itself as a visual search engine and not a social network in its first major ad campaign this summer. Unlike networks such as Facebook which are looking to virtual reality, Pinterest wants to inspire real lives. CEO Ben Silbermann said this:
“I hope that Pinterest would someday be so useful to people they could so reliably get inspiring ideas that they wouldn’t be able to imagine how they used to just go through life and find inspiration for things.”