It’s never good new for a business when their product becomes less valuable than its clone, but that’s exactly what’s happened to Twitter – again. The Chinese are known for cloning goods, in fact, their economy relies on it. So, it’s no surprise really that they have cloned Twitter, but it is a little surprising (and disappointing) that a cloned company provides their service better than they do.
Despite Twitter being over ten years old, it’s never made a profit, and no one wants to invest anymore, and last week the company missed its fourth-quarter estimates too. What’s even worse for Twitter is that their cloned Chinese version called Weibo is thriving at the moment. Weibo is now valued at far more than Twitter by millions. Admittedly this is quite odd in the world of business, but the proof is in the pudding, and with Twitter being banned in China there’s very little competition for the social media giants.
Twitter has been looking for buyers, but so far has been unsuccessful in finding one. Salesforce and Disney were the two companies thought as the most likely suitors to buy the business, but they just didn’t want to know. Much of the hesitation in finding a buyer stems from the big question that’s on everyone’s lips: Can this period of decline be reversed before it’s too late? I guess only time will tell. While there are deals in place with the NFL, Bloomberg, and the Six Nations rugby tournament for prime time video streaming, will this be enough to keep them afloat?
It’s clear that Twitter needs to do something if they want to turn this trending decline around as their current strategy just isn’t working. Either that or they simply become another microblogging platform. Either way, is this the end of Twitter as we all know it?
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