Twitter Inc will launch new features and products at a faster pace to catch up with rivals, it said on Thursday, projecting a doubling in annual revenue and reaching a least 315 million users in 2023.
Twitter shares rose 6.8% to $76.70.
The social media network said it aims to have annual revenue of at least $7.5 billion by the end of 2023.
Twitter, typically used to broadcast short messages to a wide audience, will build more ways for people to have conversations, it said.
This includes having an audio-only talk through its new Spaces feature and longer-form content using Revue, the newsletter product Twitter acquired last month.
It is also exploring groups for particular interests called “communities.”
To encourage audience-building, Twitter will let users subscribe to accounts and pay for content through a “super follow” feature.