Twitter plans to rent out some of its office space

NEW YORK: The beleaguered micro-blogging website Twitter is looking to rent space at its headquarters in San Francisco to other companies.

According to sfgate, Twitter has contacted San Francisco brokerage firm Cresa to market 183,642 square feet of "fully furnished" office space at its two buildings in Market Square.

"We're always looking at ways to use our office spaces more efficiently and effectively. We remain committed to our home in San Francisco's Mid-Market area," a Twitter spokesperson was quoted as saying.

Earlier this year, Twitter was considering renting out a partial floor of its Market Street headquarters to financial technology firm Affirm but the deal fell apart. According to reports, Twitter is also seeking to rent out 24,000 square feet in its Manhattan office.

Earlier this month, there were rumors saying that former Microsoft chief executive Steve Ballmer was buying the micro-blogging website.

Twitter introduces new tool to lure advertisers

In a bid to drive brand conversations, micro-blogging website Twitter on Tuesday announced that all global advertisers can now use conversational ads and a new "Instant Unlock Card" that encourages people to tweet to unlock exclusive content.

There were multiple reports, saying that Ballmer and Saudi Arabia's Prince Al-Waleed bin Talal were getting ready with a bid to buy Twitter. Twitter was yet to respond to the rumor.

Earlier, although it added three million users -- one million more that what analysts had expected -- the not-so-promising second quarter earnings results led to the shares of micro-blogging website Twitter tumbling.

Twitter reports slowest revenue growth since IPO

Twitter reported its slowest revenue growth since going public in 2013 and set a disappointing forecast, fanning concerns that faster growing social media services will make it a niche product.

The company posted quarterly revenue of $602 million, up 20% year-over-year and reported $107 million GAAP net loss ($0.15 per share) with quarterly non-GAAP net income of $93 million ($0.13 per share). A year ago, the year-over-year growth was 61% and two years back, it was a whopping 124%. The average monthly active users (MAUs) were 313 million for the quarter, up only 3% compared to 310 million in the previous quarter. The micro-blogging website is now looking at the video and news streaming space to revive its fortunes.
Source: Twitter plans to rent out some of its office space