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Twitter Admits It Recently Overcharged For Ads (cnn.com)
An anonymous reader quotes a CBS report about more bad news for Twitter:
The microblogging service has acknowledged that it inadvertently overcharged some advertisers for video ads, capping off a year that has featured a failed sale of the company, the departure of six of its 10 top executives and a nearly 30% drop in its stock price. As Business Insider reported, a bug in a recent version of Twitter's Android App inflated some metrics by as much as 35% for video ad campaigns that ran between November 7 and December 12.
The San Francisco-based company issued refunds to the affected advertisers, which in many cases were for minimal amounts of money, a person familiar with the situation said. "The impact was limited given this happened only on Android clients over the course of a month," the San Francisco-based company said in a statement. "This was a technical error, not a policy or definition issue, so it has been resolved."
One analyst told CBS, "I don't think this as fatal as it is embarrassing."
The San Francisco-based company issued refunds to the affected advertisers, which in many cases were for minimal amounts of money, a person familiar with the situation said. "The impact was limited given this happened only on Android clients over the course of a month," the San Francisco-based company said in a statement. "This was a technical error, not a policy or definition issue, so it has been resolved."
One analyst told CBS, "I don't think this as fatal as it is embarrassing."
Funny how companies never inadvertently undercharge.
Having been watching with some amusement the business news on Twitter, I have to agree that it's embarrassing, not fatal--mostly because I'd be amazed if Twitter managed to survive as a company long enough for this to manage to do much worse damage.