To effectively monetize its user base, Twitter is reportedly planning to expand its operations in Atlanta, which is known as a “key hub”
Twitter is planning to expand in Atlanta by opening new offices in a high profile technology park. The micro-blogging company has a plan to lease around 8,000 square feet at Ponce City Market in the Old Fourth ward, according to a report from Biz Journals by Urvaksh Karkaria.
Atlanta holds potential for Twitter
The new office, which is scheduled to open this summer, will have brand strategists working with the Fortune 500 enterprises to design marketing campaigns on the social networking site. For Twitter, such campaigns are an important source of revenue.
With the expansion, Twitter’s Atlanta sales and marketing team will also expand to around 70 people, says the report, citing a source familiar with the plans. However, the company is quiet on its expansion plans.
Q3 2022 hedge fund letters database is now up. See what stocks top hedge funds are selling, what they are buying, what positions they are hiring for, what their investment process is, their returns and much more! This page is updated frequently, VERY FREQUENTLY, daily, or sometimes multiple times a day. As we get new Read More
In Atlanta, the company has 15 employees in a small office in Midtown’s Proscenium building. Twitter knows very well that Atlanta is a “key hub,” and keeping this in mind, the company is expanding in the region to effectively monetize its user base.
Teaming up with local strategists a good move
Rob Kischuk, CEO of PerfectPost, a social media startup, told Biz Journals that a sure-fire way to attract big media is to team up with local strategists and sales representatives, and this is what Twitter is trying to replicate. “The potential benefits and strategies for effective Twitter marketing aren’t always intuitive — it makes sense to have local staff to help them close bigger ad deals and understand what these clients need,” Kischuk said.
As per the report, Twitter is also expanding its data center unit in Atlanta and has leased around 180,000 square feet in a downtown server farm.
Separately, analyst Ross Sandler of Deutsche Bank sees Twitter as one of the best mean-reversion ideas this year. Sandler has maintained a Buy rating on the company’s stock with a price target of $60 per share. The analyst believes Wall Street will eventually stop talking about the company’s decelerating monthly user growth. Sandler is impressed with the company’s recent marketing measures and considers it a good pick.
In the meantime, insiders continue to sell shares. Vice President Kevin Weil and Revenue President Adam Bain sold some of their Twitter stock last week.