Twitter quitters on rise as company nears IPO

People who are quitting Twitter are reportedly on the rise and this comes as a threatening situation to the microblogging site which is set to go public in the coming month.

A Reuters' survey indicates that 36 percent of 1,067 people who have joined Twitter do not use it, and 7 percent have shut their account, which comes as a risk for investors as Twitter marches towards this year's most anticipated initial public offering in the United States.

According to Huffington Post, rival Facebook, on the other hand, sees much less quitters with only 7 percent of 2,449 Facebook members saying not using the social network, and 5 percent saying they have shut down their account.

Twitter quitters cite a variety of reasons from lack of friends on the site to the sheer complexity of the service.

38 percent of the 2,217 respondents who do not use Twitter said that they did not find the site that interesting or useful, while 13 percent said that they do not understand what to use Twitter for.

The report said that Twitter boasted of 232 million 'active' users by the end of September, and when Facebook was a similar size, its active users were increasing by more than 20 percent every quarter.

Chief Investment Officer of AlphaOne, Dan Niles said that the data would seem to imply that the ultimate revenue potential for Twitter is less than for Facebook, the report added.