Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
1-min read

Twitter Shareholders want it to Become a User-Led Cooperative

Twitter shareholders will hold a meeting in May and vote on the issue.


Updated:April 11, 2017, 1:52 PM IST
Twitter Shareholders want it to Become a User-Led Cooperative
Are Most 'Celebrity' Twitter Accounts Run by Bots? (photo for representation, image: News18)

Twitter shareholders want to turn the micro-blogging site into a user-led cooperative, following a petition by a group of company fans urging it to sell itself to its users.

According to a report in the Independent on Monday, Twitter shareholders will hold a meeting in May and vote on the issue.

"Wall Street thinks the company is a failure because it's not raking in enough profit for shareholders. That means that Twitter is up for sale, and there is a real risk that the new owner may ruin our beloved platform with a narrow pursuit of profit or political gains," the petition, which has so far gathered nearly 3,500 signatures, said.

The petition wants the company to share its future with users whose participation makes it so valuable.

Also read: The 18 Million ReTweet Challenge: Will The Nevada Man Win His Wendy's Chicken Nuggets?

According to the report, if the proposal goes through, it would require Twitter to "prepare a report on the nature and feasibility of selling the platform to its users via a cooperative or similar structure with broad-based ownership and accountability mechanisms."

However, Twitter's board opposed the idea of selling the site to its users, arguing that "changing its structure would not be in the best interests of shareholders".

The Twitter board also argues that as a publicly traded company, users are already free to become its stockholders.

"We believe that preparing a report on the nature and feasibility of selling the ‘platform' and doing so only to ‘its users' would be a misallocation of resources and a distraction to our board of directors and management," the report quoted the company as saying in a proxy filing submitted last week.

Also read: Microsoft Buys Deis to Boost Cloud Based Applications

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Sarthak Dogra
Read full article
Next Story
Next Story

Also Watch


Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results