Half of U.S. adult Twitter users now consume news on the platform and get news through the social media platform, mainly on mobile devices, according to a new survey. The report by the Pew Research Center in collaboration with the John S. and James L. Knight Foundation was released on Monday. The results are based on a survey of more than 5,000 U.S. adults including Twitter and Facebook users.
Twitter users who consume news on the platform, defined as information about events and issues that involve more than just family or friends, represent only 8 percent of the U.S. adult population.
Almost half of all U.S. adults on Facebook use the social media platform founded by Mark Zuckerberg to consume news as well according to a study from the Pew Research Center released two weeks ago. But that group represents nearly one-third of all U.S. adults. Twitter has about 200 million users worldwide, while Facebook has 1 billion. The survey also underscores how young people consume news because almost half of Twitter news users are between the ages of 18 and 29. The network known for short messages of up to 140 characters is preparing to make one of the most closely watched initial public offerings later this week. It raised the price range for its IPO by 25 percent earlier on Monday, valuing the company at up to $13.6 billion…numbers that investors surely won’t have any problem consuming!
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Twitter IPO to Decide Faith of Web Startups
Twitter Inc. (TWTR)’s initial public offering stakes a lot more than shares held by employees and investors. The firm’s performance will impact how dealmakers in Silicon Valley value upcoming Internet startups.
A strong Twitter debut will give the green light to venture capitalists and entrepreneurs for other consumer-Internet IPOs and the level of prices startups can handle in funding. A decline in shares, however—like the one experienced by Faceboon Inc. (FB) after its IPO in May 2012—could hurt valuation of internet startups and drive venture capital downwards.
Facebook’s sharp decline of 50 percent within its first three months as a public company spread its effects all across the startup field. Venture investor loss of faith in internet companies dropped for three consecutive quarters before picking up in the second quarter of this year, according to the National Venture Capital Association.
Twitter’s offer seeks to raise as much as $1.4 billion and it is speculated that the company has already drawn enough interest to sell of the shares in its IPO.
