Twitter records slowest growth in user base

TwitterMicro blogging site, Twitter has said on Wednesday that it recorded its slowest growth in user base in years raising concerns that the company might not be able to maintain its rapid growth.

Twitter, which is based in San Francisco, said that fourth-quarter revenue rose to $243 million, which is better than analyst expectation. This is the first time that Twitter is announcing its results as a public company. Investors were concerned over slow growth in user base and a fall in timeline views.

The social blogging network with more than 200 million members worldwide showed that the IPO market has recovered since the listing of Facebook. Twitter had priced its issue at the upper range and aimed to raise as much as $1.8 billion indicating that the investors have created demand for the shares. The company had priced its shares at$26 per unit and sold a total of 70 million shares.

Twitter shares lost a firth of their value as it fell to $54onn Wednesday a close of $65.97 on the New York Stock Exchange.