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April 14, 2011

Trouble @Twitter>

Maybe this is why I haven't hit 10,000 followers yet. It's certainly not the fact that I tweet in fits and spurts or my bone-dry wit.

Amplify’d from tech.fortune.cnn.com

Trouble @Twitter

Boardroom power plays, disgruntled founders, and CEO switcheroos are clipping the wings of this tech high flier.

There's no shortage of drama at Twitter these days: Besides the CEO shuffles, there are secret board meetings, executive power struggles, a plethora of coaches and consultants, and disgruntled founders. (Like Williams. The day after Dorsey announced his return to the company -- via tweet, naturally -- Williams quit his day-to-day duties at the company, although he remains a board member and Twitter's largest shareholder, with an estimated 30% to 35% stake.) These theatrics, which go well beyond the usual angst at a new venture, have contributed to a growing perception that innovation has stalled and management is in turmoil at one of Silicon Valley's most promising startups, which some 20 million active users rely on each month for updates on everything from subway delays to election results -- and which a growing number of companies, big and small, seek to use to market themselves and track customers.

Just two years ago Twitter was the hottest thing on the web. But in the past year U.S. traffic at Twitter.com, the site users visit to read and broadcast 140-character messages, has leveled off. Nearly half the people who have Twitter accounts are no longer active on the network, according to an ExactTarget report from January 2011. It has been months -- an eternity in Silicon Valley -- since the company rolled out a new product that excited consumers. Facebook's Mark Zuckerberg used to watch developments at Twitter obsessively; now he pays much less attention to the rival service. Meanwhile companies are hungry to advertise, but Twitter hasn't been able to provide marketers with enough opportunities. Last year the company pulled in a mere $45 million in ad revenue, according to research firm eMarketer. Facebook brought in $1.86 billion.

See more at tech.fortune.cnn.com
 

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