Twitter ended the third quarter with a core audience of 307 million active users, an increase of just 3 million from June.

The move, worth $197 million as of July 28, is to \"reinvest directly in our people,\" Jack Dorsey, who was named as the company's permanent CEO earlier this month, said.

Dorsey has been running Twitter as interim CEO to much acclaim since his predecessor, Dick Costolo, stepped down on July 1.

Dorsey also heads the online payment service Square. The news raised questions over whether Dorsey could run both companies at the same time, and whether that would create a conflict of interest.

Allrecipes.com, a Seattle-based website where people submit and find recipes, boasts of 1.3 billion annuals visits with a presence in 24 countries (including India).

The search for Twitter CEO has gained urgency with the company board meeting scheduled for Thursday to discuss the shortlisted names for the same.

The stock is down 29 per cent since Twitter's July 28 earnings report, when it warned that boosting its user growth rate will take a long time.

Last week, the microblogging site said its number of monthly average users grew in the second quarter at the slowest pace since it went public in 2013.

The company is also in the midst of a management change after Chief Executive Dick Costolo abruptly announced in June that he was stepping down.

Twitter shares jumped on the report, which was distributed on the Internet and closely resembled Bloomberg's news website.

Costolo will be replaced by co-founder Jack Dorsey on an interim basis. He will step down on July 1 and will continue to serve on the board

Business Today brings you snapshots from newsmakers this past fortnight.

CEO Dick Costolo announced 'Twitter Samvad', a service that would help the government and government bodies communicate with people via tweets through the SMS medium.

Costolo promised the company will bring in further user controls and improvements in coming months.

Chief Executive Dick Costolo said that quarterly specific factors, including seasonality and the launch of Apple's new mobile operating system, slowed additions in Q4.

The feature will make sure new users have something to read on signing up without following others.

Over five years, MIT's researchers will organise a vast quantity of content from Twitter, Reddit and other online forums and build new communication tools.

Rowghani will, however, continue to be an employee at Twitter acting as a strategic advisor to the CEO Dick Costolo.

Twitter booked a net loss in the first quarter because of stock compensation costs, but its results surpassed Wall Street's expectations thanks to a sharp increase in advertising revenue.