As the world keeps a close eye on every chapter that is written about buying Twitter on Elon Musk, the social network decided to change the focus of its product development strategy. As published bloombergcompany you will walk away from your most risky and long-term projects put the magnifying glass on a more immediate effort.
This modification responds to an unspecified scenario that was raised on Twitter after accepting a $44,000 million offer from the CEO of Tesla and SpaceX. Jay Sullivan, who replaced the recently fired Kayvon Beikpour as product manager, will be responsible for the restructuring that he will have to face, among other things. reorganization of affected personnel.
According to the aforementioned media, Twitter will forgo the development of features that were planned to be released later in the future. These include features related to communities, newsletters, and the Audio Spaces extension; instead, developers will focus more on customization options and user base growth. Thus, the social network intends to minimize the risks and use of resources, while discussing how and when the acquisition of Elon Musk will be closed.
It is worth noting that among the plans that would not be affected by this change in strategy would be a button for editing tweets. Although no further details about this, other than the official mention of its preparation, were not provided. Twitter will still bet on an official launch later this year..
Short-term approach exposes the uncertainty Twitter is going through
Since the announcement of Elon Musk’s purchase, the world of Twitter has been turned upside down. The arrivals and departures of the businessman regarding the terms of the acquisition were not consistent with the plans of the social network for the future. Let’s not forget that the CEO of Tesla and SpaceX has repeatedly used Twitter to criticize both the company he is trying to buy and its leaders.
Added to this is the bot controversy and the purchase price, which Musk said should have dropped by 25%. And as if that wasn’t enough, Twitter’s shareholders sued the mogul, accusing them of driving the share price down. The price of each Compartir social network hit $51.70 on April 25, the day the acquisition was announced; Since then, the price has fallen significantly, reaching $35.76 on May 24, although it recovered slightly and is currently around $40.
But going back to changing strategy in product development, bloomberg mentions that the changes that Twitter suggests focus on the short term Rumors of possible layoffs revived. The company has ruled out this possibility for now, but has not been able to provide details on what will happen once the purchase is completed.
For as long as Parag Agrawal, the current CEO of Twitter, recently tried to show that the company is still focused on its goals. “No one at Twitter works alone to keep the light on, we take pride in our work,” he wrote.
Source: Hiper Textual
