TWITTER, INC.

(TWTR)
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Delayed Nyse  -  05/27 04:03:12 pm EDT
40.17 USD   +1.64%
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Twitter acquires Slack-like company Quill to improve messaging tools

12/07/2021 | 02:17pm EDT
FILE PHOTO: People holding mobile phones are silhouetted against a backdrop projected with the Twitter logo

(Reuters) - Twitter Inc said on Tuesday it acquired Slack competitor Quill to help the social networking company improve its own messaging tools.

The acquisition comes as Twitter recently named a new chief executive Parag Agrawal to replace co-founder Jack Dorsey, who stepped down from the top role last week. Agrawal, who had served as chief technology officer, is expected to bring a greater focus on engineering to the company.

Slack, owned by Salesforce, has become a common online workplace messaging tool used by many companies. Quill emerged as a possible competitor for the messaging app this year.

The Quill team will help Twitter improve its direct messaging tool and make it a "more useful & expressive way people can have conversations on the service," said Nick Caldwell, Twitter's general manager for core technology, in a tweet on Tuesday.

Quill said in a blog post that its service will shut down as the team integrates into Twitter.

(Reporting by Sheila Dang in Dallas; Editing by Aurora Ellis)

By Sheila Dang


© Reuters 2021
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Financials (USD)
Sales 2022 5 939 M - -
Net income 2022 517 M - -
Net cash 2022 3 374 M - -
P/E ratio 2022 124x
Yield 2022 -
Capitalization 30 646 M 30 646 M -
EV / Sales 2022 4,59x
EV / Sales 2023 3,88x
Nbr of Employees 7 500
Free-Float 87,6%
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Mean consensus HOLD
Number of Analysts 35
Last Close Price 40,17 $
Average target price 50,87 $
Spread / Average Target 26,6%
EPS Revisions
Managers and Directors
Parag Agrawal Chief Executive Officer & Director
Ned D. Segal Chief Financial Officer
Bret Steven Taylor Independent Chairman
Nick Caldwell GM-Core Technologies
Aditya Vimalkumar Agrawal Chief Operating Officer
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