Twitter, arguably the biggest social media network behind Facebook, is set to make its entrance on wall street. It has however found itself having to fend off up and coming social outlets such Instagram, Snap Chat, Pinterest, Kakao, line, Tumblr and Reddit. This is highlighted by twitter’s recent loss in money and its competitors attracting followers at a greater rate.

Though these social outlets all have a point of parity in terms of the fact that they all are developed to enable, speed up and facilitate connectivity between people around the globe, they also have very distinct points of difference. Snap chat, for example, allows it users to create and send videos/pictures that disappear after they are viewed. Pinterest allows people to collect and share pictures of any interests with friends. Instagram, which started off only allowing people to share pictures, has now integrated the ability for its users to share videos.

Though twitter is still significantly dominant in terms of revenue, it will need to adapt to the newer forms of communication which involves the exchange of pictures and videos in a cool and innovative way that is more appealing than its predecessors if it wants to retain that spot.

Source: http://www.nytimes.com/2013/10/07/technology/awaiting-ipo-twitter-must-deal-with-horde-of-younger-rivals.html?ref=technology