The bad news for Twitter just doesn’t seem to end. After a string of embarrassments, regarding its employees, it is now about its clients. It seems that due to some technical error/ bug Twitter overcharged its clients for the videos that they advertised on Twitter between the 7th of November and the 12th of December. Twitter has confirmed the news and has clarified that it has informed its clients about the error and has issued refunds for the same.
Twitter’s metrics page for videos on its Android app was showing inflated ad video metrics. The metrics fro videos were inflated by as much as 35% in some cases. Twitter has faced a lot of backlash due to this new error in addition to the problems it faces over its staff layoffs and resignations.
Twitter has faced a lot of pressure from investors and industry watchers to increase its ad revenue and app users. They were able to add only 4 million regular users in the second and the third quarters of 2016. This inability to attract users and revenue has been devastating for Twitter.
In addition to this, Twitter was forced to lay off about 9% of its workforce in October of this year. They even fired employees working on the highly promising Vine app. Twitter has also lost one of its most loyal employees, its long time Chief Operating Officer (COO) Adam Bain, who was also the Vice President of ad sales, Head of Media Partnerships and Vice president for the Product division. Just like Adam, there have been many top leadership exits this year, exits that add up to over 60% of its top leadership.
Twitter’s share price has struggled a lot and a prospective stake sale to SalesForce and Disney also did not materialize. Twitter is definitely not in the best of health, but it still is one of the most popular social media tools and may not be ready to call it quits as yet.