Following Twitter's decision to officially remove the character limit on direct messages last month, the company announced that the move would have no effect on the "public side of Twitter," and it definitely did not indicate that it would eventually remove the 140-character restriction on tweets as well. But now, however, it's been reported that the company is building a new product that will allow users to tweet beyond its trademark 140 characters, according to Re/Code.

The report, which cites unnamed people at the company, claims the product would let users post "long form content" to the platform, although it's unclear exactly how this would work. It may be that the product will be similar to TwitLonger, which puts an outside continuation link into Tweets that exceed 140 characters.

In addition to the long form product, it's been reported that other limit-removal plans have included allowing an extra 10 characters in a tweet and removing things like links and user handles from the count. The project, codenamed '140 plus,' is headed by interim CEO and Twitter co-founder Jack Dorsey, according to reports from the Wall Street Journal.

"People have been very precious at Twitter about what Twitter can be and how much it can be evolved," said one current senior employee. "Having Jack come in and say it's okay makes all the difference in the world."

Increasing Twitter's famous 140-character tweet limit may be seen as a radical step by some, but it could be just what the company needs right now; while the microblogging site has struggled to attract new signups recently, its social media rivals, Facebook, has just past the one billion user mark. To add to the company's woes, it is still searching for a permanent CEO and its product team is in the middle of a huge transition. All factors which have contributed to Twitter's stock rocking back and forth over the last year.