Twitter shareholders to vote on turning social media company into co-operative owned by users

Twitter shareholders will vote on whether to turn the social network into a user-led co-operative at the company's shareholder meeting set to take place at the end of May. The move follows a petition by a group of Twitter fans urging the company to sell itself to its users, turning the firm's publicly-listed share structure into a co-operative, meaning it would be owned by its users. "Wall Street thinks the company is a failure because it's not raking in enough profit for shareholders. That means that Twitter is up for sale, and there is a real risk that the new owner may ruin our beloved platform with a narrow pursuit of profit or political gains," the petition, which has so far gathered nearly 3,500 signatures, reads. "We want the company to share its future with those whose participation make it so valuable: its users" it adds.