Twitter Shares soar on new plans
In after hours trade, Twitter's shares were trading up 1.48 percent and according to analysts, could go up another 5 percent by Friday.REUTERS

Twitter Inc's shares soared by about eight percent on Wednesday after the social media website's leaders pitched their growth and user retention plans to investors on their first ever "analyst day."

Twitter's CEO Dick Costolo pulled the curtain down on several new features and services that will make the platform better for both users and consumers. That seemed to go down well with investors, leading to the rise of their stock prices.

In after hours trade, Twitter's shares were trading up 1.48 percent and according to analysts, could go up another 5 percent by Friday.

So what are those magic words that Costolo uttered that finally breathed some life into the almost-static stock prices? Below are a few highlights of the analyst conference:

Easier for New Users – Costolo said that Twitter will "remove friction" and make it more accessible and user friendly with its "instant timeline" feature where new users will get to choose from a slew of companies and genres to follow and add to lists.

Functionality for Private Messaging – Twitter has a "direct message" option and the feature is more like an "e-mail" option than a texting service. Twitter will add a private messaging system, more like a texting system that will help users share tweets easily.

Emphasis on Videos – Twitter is going to focus on the quality and access to videos and will also add video editing, recording and sharing options. It also plans on adding a "while you were away" feature which will curate the most important tweets for the user when accessed.

New Services and Apps – Twitter also hopes on adding new developer tools so it can make more apps and generate more ads.

"Everything that happens in the world happens on Twitter, and we're constantly working to make it easier to create, share, consume and connect to what's happening right now – whenever and however it's most convenient for you," vice president of Product at Twitter, Kevin Weil wrote in an official blog.

"Ultimately, we believe there is something for everyone at any time on Twitter, and we want to make finding your niche simple from the start," Weil added.

Read more on Twitter's analyst conference here.