Internet giants accrue dominance online by how well they tap into people who constantly visit their platforms. It is an area that Twitter Inc (NYSE:TWTR) has had little success as investors remain wary that the company is struggling on the monetization front. Chris Sacca of Lowercase Capital speaking to CNBC reiterated that the company needs to carry out a series of changes to be relevant.
Some of the changes that the investor would wish to see on the embattled social giant include a ‘save button’. The investor is also calling for Twitter Inc (NYSE:TWTR) to organize tweets by location and notify people of any upcoming events.
Twitter has not hit the high strides in terms of monetization. Shareholders are calling the company to devise ways of generating money from big events or when big topics emerge.
“I think Twitter Inc (NYSE:TWTR) just needs to go out and court the next few hundred million users. Incremental changes to the existing product are not going to do it. There are people out there looking to see tweets and easier way to participate in the network, and they want to feel they are engaged and having fun,” said Mr. Sacca.
CEO, Dick Costolo, has been under immense pressure in the recent months on concerns he is not doing enough to generate shareholder value. Sacca affirms that he should remain at the helm only if he goes on and implements some of the changes proposed by shareholders. Some of them have the potential to generate value in the short term.
Sacca has been in arms with other Twitter Inc (NYSE:TWTR) investors especially on writing an 8500-word article about what the company needs to do.
“[..] I am obsessed with the company and when you are obsessed with something like this for nine years, it turns out you probably have a lot to say about it. [..] When you care that deeply about something you want to see it reach its full potential, and that is what I would like to see with Twitter at this point,” said Mr. Sacca
The investor has refuted suggestions that he will be offloading his stakes should the company fail to implement some of the proposed changes.
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