Twitter CEO calls company 'people's news network'

San Francisco: Twitter Inc Chief Executive Jack Dorsey defined one of the company`s missions as being the "people`s news network," according to an internal memo seen on Monday.

The 10-year-old social networking service has long struggled to define its core purpose and is under the spotlight as it explores selling itself in a process that has attracted potential buyers such as Salesforce.com .

Twitter has made a recent push into news and sports on mobile devices and this foray could pique the interest of a media company as an acquirer, analysts have said.

The memo does not address the sales process. Twitter did not immediately respond to a request for comment.

Bloomberg, which first published the memo Monday, reported that it was sent to employees last week.

Dorsey who returned as a permanent CEO about a year ago thanks employees in the message for showing resilience and calls on them to help the company strive to be the first place "people check to see what`s happening."

"Twitter is what`s happening, and what everyone is talking about (literally!). News and talk. We`re the people`s news network."

Later, Dorsey said, "So let`s show them what we`re made of and deliver a better Twitter faster than they thought possible. We can do this every day. We can do this!"

Twitter has recently signed deals with a number of media companies and sports organizations to stream major events such as the presidential debates and Thursday Night NFL games.

Twitter went public in November 2013 at $26 a share. The shares peaked above $74 just over a month after its IPO, but have been on a steady downward trajectory since. Twitter shares closed trading at $17.56 per share Monday, down more than 11 percent on speculation that no buyer for the whole company would ultimately emerge.