In March, after months of quietly amassing Twitter shares, Musk met with Dorsey, although he was no longer Twitter’s CEO, to “discuss the future direction of social media,” according to a company filing. Parag Agrawal, CEO of Twitter, walks to a morning session during the Allen & Company Sun Valley Conference on Jin Sun Valley, Idaho. ![]() “The challenge for Twitter is that they still have not been able to grow their user base and improve their monetization to the level where their monetization is on par with their influence,” Forte said. At the same time, it was exploring new revenue opportunities, such as its Twitter Blue subscription service and cryptocurrency-related features. The company’s existing goal was to somehow add 100 million additional daily active users by 2023, a 45% increase from the fourth quarter of 2021, and grow its annual revenue to $7.5 billion, up from just over $5 billion in 2021. Twitter declined to comment for this story.įrom the start, Agrawal had a daunting task. “I’m sure when he goes home at night, he says to himself, ‘What the hell did I get myself into?’” said Klepper. Meanwhile, some lawmakers and regulators are suggesting Agrawal could be probed in the wake of the whistleblower allegations, which directly implicate Agrawal, both as CEO and in his previous role at CTO. But there are sincere doubts about whether Agrawal will survive another year, whether because Musk buys the company and then removes him, or because the board replaces him if the deal falls through. The past year has been anything but that.ĭespite the challenges, Agrawal has managed to continue growing the platform’s user base and has launched various new features, including testing the long-awaited edit button. “I think Parag was elevated because they thought everything would be status quo,” said Bill Klepper, management professor at Columbia Business School. But Agrawal, a decade-long veteran of Twitter who previously served as its CTO, had never previously run a company - let alone one of the world’s most important social media platforms. That would be a lot to navigate for even the most seasoned chief executive. ![]() Philip Pacheco/AFP/Getty ImagesĮlon Musk's texts show how his relationship with Twitter went sideways SpaceX founder Elon Musk addresses the media during a press conference announcing new developments of the Crew Dragon reusable spacecraft, at SpaceX headquarters in Hawthorne, California on October 10, 2019. (TWTR) decides to move forward with the proposal, Agrawal could soon either be out of a job or be working for the billionaire with whom he’s spent months quarreling.Įven for a company accustomed to periods of upheaval, Agrawal’s tenure leading Twitter has been marked by an unusual degree of chaos: a nightmare acquisition battle with Musk a former executive alleging serious security vulnerabilities and an economic downturn hitting its core advertising business. The move could bring to an end the ongoing legal battle over Musk’s attempt to pull out of the $44 billion acquisition deal, which is set to go to trial in two weeks. (TWTR) at the originally agreed upon price of $54.20 per share, according to a Tuesday securities filing. ![]() Elon Musk this week proposed following through with the deal to buy Twitter Ten months later, Agrawal has featured prominently in a whistleblower disclosure, been rebuked by name in a Congressional hearing and fielded criticism from the world’s richest man (and his possible future boss) both publicly and privately. ![]() When Parag Agrawal took over as Twitter’s CEO last November following co-founder Jack Dorsey’s surprise resignation from the role, he was little known outside the company.
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