Twitter aims to double its revenue to $7.5 bn or more in 2023

Earlier today, Twitter conducted an Analyst Day, which featured commentary and presentations from the company’s leadership team. As part of the event, management shared new ambitions and long-term targets, along with more details on the company’s strategy and how it expects to achieve these goals. The new long-term goals were disclosed in an 8-K earlier today.

Key highlights from the Analyst Day:

Detailed ambitious three-year goals to:

• double revenue to $7.5 billion or more in 2023 and gain market share in the $150 billion market for digital advertising; and
• consistently grow mDAU 20% or more per year, reaching 315 million or more mDAU in Q4 of 2023

Articulated clear revenue strategy, centered on:

• Investing in Twitter’s core brand business while making a strong push to include more performance advertising use-cases (with a long-term goal of having Performance Ads comprise half of Twitter’s advertising base)
• Expanding Twitter’s offerings for small and medium sized businesses;
• Maintaining steady contribution from DES and MoPub; and
• Diversifying Twitter’s revenue by continuing to nurture adjacent opportunities such as commerce and subscriptions.

How Twitter intends to grow mDAU 20% or more per year by:

• Building on its strong foundation of ongoing product refinements, such as improved relevance;
• Layering on top of that work across Interests, Conversations, and making Twitter better in emerging markets, which it expects can both increase top of funnel and improve its retention; and
• Continuing to advance Twitter’s work on #health across product, policy and enforcement, to help keep people safe, engaged and informed.

In order to realise both of these mDAU and revenue ambitions, Twitter plans to double development velocity by the end of 2023, by ramping its investment in its technology and team:

• This means doubling the number of features per employee that directly drive either mDAU or revenue
• Twitter will focus on adopting external technology solutions, modularizing our architecture, and increasing the pace of experimentation and learning; and
• Additionally, Twitter’s focus on making security and privacy more seamless and scaling its infrastructure will reduce operational complexity as it grows.