Twitter Inc (NYSE:TWTR) is looking for another stream of revenue for the company and in one such effort Twitter is trying to woo the mobile app developers through its mobile developer suite. Twitter Inc (NYSE:TWTR) unveiled the mobile app developers suite during its first mobile developer conference at San Francisco on Wednesday. CNBC’s Julia Boorstin reported on CNBC about the Twitter’s new platform minutes before the conference kick off.
“Twitter to unveil a suite of tools to a thousand developers who are coming here from all around the world. […] Now the platform which the sources tell me will be called as Fabric,” Boorstin reported.
Boorstin added that ‘Fabric’ might transform Twitter Inc (NYSE:TWTR) from just an app to a service provider for app developers. She pointed out that the ‘Fabric’ suite will be offered at free of cost to the developer and Twitter has plans to charge once it gains popularity among the developers. She said that this might place Twitter directly in competition with Facebook Inc (NASDAQ:FB) and Google Inc (NASDAQ:GOOGL), who also allows the users to develop apps integrated with their system.
Boorstin reported about four key Twitter Inc (NYSE:TWTR) acquisitions which might play a key role in ‘Fabric’. ‘Crashlytics’ is an acquisition which might help the developers in debugging and building the apps. ‘MoPub’ might help the developers to fill vacant spaces in app with ads. ‘Twitter Kit’ will help the syndicate tweets into apps. ‘Digits’ should help the developer for easy log in. She pointed out that even though Twitter offers these tools for free, when the developers stream the tweets along with ad services on the platform, it might generate a lot of revenue for the company.
In another CNBC interview minutes before the conference kick off, New York Times tech columnist, Nick Bilton talked about challenges that Twitter might face with the new mobile developer suite. Bilton said that In the initial days of Twitter, the main platform used to crash many times, but the API was working very well, which helped many developers in building their apps. As a point in time there were more than a million apps and Twitter Inc (NYSE:TWTR) decided to get rid of the API. But now in a U-turn they are going back to convince developers to use its suite, since Twitter Inc (NYSE:TWTR) see an opportunity to generate revenues through this.
“I think that what they are really going to struggle with and what you will see in this developer conferences, trying to allow people to build things that don’t alienate the advertisers, but also draw more users to the website, which is what Twitter has really had trouble with the last couple of years,” Bilton said about challenges which Twitter Inc (NYSE:TWTR) might face in future.
Bilton mentioned that it is unfair to compare Facebook Inc (NASDAQ:FB) with Twitter Inc (NYSE:TWTR) since the Facebook’s mobile user base around the world is much more than Twitter’s. But he feels that this is defining moment for Twitter’s future.
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.