On Thursday afternoon Twitter said it would close the Vine video sharing service, which it bought four years ago, but gave no reason for the move.
Jack Dorsey, chief executive, said he saw a "significant opportunity to increase growth" as the company improved the platform.
Live video
"We have a clear plan, and we're making the necessary changes to ensure Twitter is positioned for long-term growth," he said.
"The key drivers of future revenue growth are trending positive, and we remain confident in Twitter's future."
Twitter's user base remains less than a fifth of Facebook's and is also fewer than Instagram, the picture app that Facebook owns.
The company hopes that live video will attract more users and recently struck a high-profile deal to show National Football League games in the US on Thursday nights.
The site will also introduce "meaningful updates" next month in a bid to better protect users from abusive content - an issue that Twitter has been widely criticised about