Twitter has dissolved the 25-member commerce team that helped usher in the company’s “buy button” feature. as CEO Jack Dorsey kills off initiatives that won’t pay off for the social network’s core business, reports
The move is part of CEO Jack Dorsey’s plans to completely overhaul the company, allowing it to focus on core initiatives that drive in new users and earn the company money.
Development on Twitter’s “Buy” button, which let users order goods and services straight from a tweet, has stopped. he Buy button will still be around, but won’t get new features, according to BuzzFeed.
While the Buy Button will remain, there are now no further plans to expand its functionality.
Commerce on social has failed to bring in the big dollars that Twitter executives had hoped for in recent years.
The company is said to be instead spending money on initiatives that are actually drawing advertising dollars, including customer service and dynamic product ads.
That’s not to say Twitter may not attempt to roll out a new commerce team in the future. For now the company is just removing focus from such offerings.
“We made a change 3 months ago to INCREASE our investment in commerce by moving fully into Dynamic Product Ads after seeing the great early results (2x the CTR, 2x the conversion rates) we talked about in our Q1 earnings call. We have more product, engineering and business focus on commerce as a result of focusing on DPAs. The bottom line is DPAs work for advertisers and we will continue to invest in that product,” A Twitter rep said in an emailed statement.
Twitter is still missing revenues as its stock continues to lose an increasing amount of value.
Early this week Twitter announced that @ mentions, URL’s, and photo links will no longer count towards a users 140 character limit.