Source : Pixabay/OpenClipart-Vectors
A small group of users are currently planning on providing a new cooperative model to the board of directors’ meeting in May after the group managed to secure enough support for a petition. If the members of the board accept the proposed model, they would go ahead and explore the possibility of implementing such plan.
However, at the moment, the board is extremely critical of the proposed idea as before the board said, “We believe that preparing a report on the nature and feasibility of selling the ‘platform,’ and doing so only to ‘its users,’ would be a misallocation of resources and a distraction to our board of directors and management.”
This recent petition comes after in recent months, Twitter struggled to keep itself highly profitable once it was and the petition led by Nathan Schneider, stated: “Wall Street thinks the company is a failure, because it’s not raking in enough profit for shareholders,” the petition reads. “That means that Twitter is up for sale, and there is a real risk that the new owner may ruin our beloved platform with a narrow pursuit of profit or political gains.”
And with the new model, he proposes that the company becomes a co-operative business where a small portion of voting shares is allocated towards users who will have a direct influence in the board of directors. However, such proposal is highly unlikely to be accepted even though the company is struggling. Recently in an attempt to make the social networking platform popular, Twitter increased its 140 characters limit to increase interactions among users. We will need to wait and see if the move actually helps the company in the coming months.