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The $13 bln microblogging sites investors voted against studying whether to become a user-owned cooperative. It would be a smart solution for a company with lots of dedicated users but few revenue opportunities. Twitters sky-high valuation would need to drop considerably, though.

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Source: REUTERS/Kacper Pempel

People holding mobile phones are silhouetted against a backdrop projected with the Twitter logo in this illustration picture taken in Warsaw September 27, 2013.

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Twitter investors at the annual meeting on May 23 voted against a shareholder proposal that the company consider becoming a cooperative owned by users. Just 4 percent of owners backed the idea. The proponents argued it bring in new and reliable revenue streams, greater focus on the services long-term potential and more accountability in handling abuse.

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