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Re:Jack Dorsey addresses Twitter's character limit by a_shane on Wednesday January 06, 2016 @02:21PM (#10852888)
All of the above, plus attracting new users.

Comparatively, Twitter doesn't have the same user base as Instagram, Facebook, or WhatsApp, and I think that extending the character limit is a way of making Twitter more accessible for first-time users.

It's also designed to bring more brands to Twitter. Right now it's extremely difficult to promote your brand/business, include a photo, @ mention someone, and include a hashtag. An extended character limit solves all of these problems, making it a more attractive platform for advertising than ever before.

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