Exactly a year ago, Twitter Inc (NYSE:TWTR)’s CEO was quoted in a CNBC segment addressing critics comparing the company’s offering to the town square in the old days. He was right.
The remarks from the Twitter Inc (NYSE:TWTR) chief were broadcast alongside a discussion about the company and the ecosystem of other companies it has spawned, its then-impending IPO and its impact on the world.
The company has since made its debut on the stock market and has had its own share of ups and downs. However, the company recently reported performance in the recently-ended quarter that silenced a lot of critics. It reported earnings per share of $0.02 on $312 million in revenue, above a consensus estimate of $0.01 EPS.
In the segment, Twitter Inc (NYSE:TWTR) CEO Dick Costolo was asked by Carl Quintanilla what he has to say to people who say that the company’s product illustrates the “decline of western civilization”. These critics also say that Twitter Inc (NYSE:TWTR) is the “enemy of contemplation” and an “aggressive distraction,” Quintanilla told Costolo. He was then asked whether these criticisms are funny, enraging or ridiculous. According to the CEO, he has a different view compared to those critics.
“I think that I have a philosophical difference with those people. Thousands of years ago, there was a town square. That is where the politician was talking about what was going on. That is where the musicians were. That is where storytellers were. That is [also where]we felt connected to each other. That is totally unfiltered and raw, [just like Twitter],” Costolo explained.
Today, some industry observers have said that the company has “marketing in the moment” captured, something that other social media platforms are hard-pressed to do. As an example, people saw how effective Twitter is as a conversation platform for live events when the FIFA World Cup was underway. Just like a town square where sporting events in the past were conducted, Twitter now serves as the platform where people can most effectively discuss current events, not just about sports per se, with people from around the world.
Twitter Inc (NYSE:TWTR) has long since had its IPO and had its share of troubles. What is still true today, however, is the companies that the microblogging site has made possible.