Twitter Counting on Tools, Not Ads, For Revenue
Some exciting news in the world of Twitter. According to Reuters, Twitter will be rolling out revenue-generating features by the year’s end. I know what you’re thinking: “Great, here come the ads.” Well you are wrong, my friend. Twitter believes they can stay ad-free by developing various add-on tools and services for the businesses and professional users of Twitter.
“There are a few reasons why we’re not pursuing advertising — one is it’s just not quite as interesting to us,” Twitter co-founder Biz Stone told the Reuters. “There are no people at Twitter who know anything about advertising or work in advertising. So we don’t have anyone there to make or take those calls.” How comforting.
Stone continued to reassure us all by saying that Twitter would remain free for consumer and businesses. Twitter plans on releasing new features to enhance Twitter’s user-experience, such as lightweight analytics and directories.
In addition to a revenue generation feature, Twitter has a second ambitious goal to achieve by the end of 2009: doubling their staff. Twitter now has more than 40 employees and plans to double its staff by the end of the year.
Reports indicated that Twitter has raised $35 million in financing this year alone, and according to Stone, Twitter isn’t under any pressure to institute a revenue model by the end of the year. We’ll see about that.