Twitter stock jumped 12% as it unveils plan to double revenue by 2023

Twitter (TWTR.US) stock jumped nearly 12% after the company revealed in an SEC filing, that it aims to at least double its annual revenue by 2023. This would lift Twitter revenue from $3.7 billion in 2020 to at least $7.5 billion. The company would like to double its development velocity by the end of that same year, which would require it to double the number of features each employee ships that directly drives mDAUs or revenue. The social media giant also plans to have 315 million monetizable daily active users by the end of 2023. According to the earnings report for the final quarter of 2020, Twitter had 192 million monetizable daily active users. CEOJack Dorsey has said his firm will explore a number of options, including a subscription service and tiered payments for additional features.