Image via CrunchBaseMore than 80 percent of all the companies which advertise on Twitter Inc.’s microblogging website are going to renew their marketing approach, declared the company's CEO on Wednesday. Twitter is specifically working lately, on restructuring its advertising-based business. CEO Dick Costolo also mentioned that company's future is not only dependent on getting more prices for its shares in the initial public stock offering. Costolo was present at the D9 conference of All Things Digital when he claimed that Twitter's long-term success is not "correlated" with an IPO. Investors are always keeping a sharp eye on such fast-growing social networking companies like Twitter and Facebook, only hoping to become the next blockbuster IPOs. Just last month, the professional social networking site LinkedIn Corp made the decision of listing itself as a publicly-listed company and its shares literally doubled from the original offered price on the first day. Twitter has topped above 200 million registered user accounts, allowing them to constantly update with 140-character long short messages.
Just this Wednesday, CEO Costolo unraveled the latest feature of the company which makes it easier for the users to post photos directly from their Twitter homage along with an additional enhanced search. Costolo asserted that Twitter Inc. hosts an estimated 600 advertisers, which is a steep rise from previous 150 advertisers in 2010. Even though Twitter is boosting up and restructuring its advertising business, Costolo made it clear that Twitter is not doing this under pressure for better revenues at all. He stated that "we don't need to optimize for short-term revenue."
The new-born social networking services, just like Twitter and Facebook, are becoming largely challenging for the well-established internet giants such as Google Inc and Yahoo Inc. Twitter has just began housing advertisers last year, hence it still remains in its early stages of building the business. Twitter is hoping to generate around $150 million in ad revenue this year, while Facebook gathers a huge lump of $4 billion in ad revenue, calculates the research firm eMarketer.
Costolo is one of the many highly recognized and admired executives of the technology industry to be speaking at the conference, which takes place at an upscale resort in Southern California. Other highlighted chief speakers at the conference include the CEO’s and executives of Walt Disney Co, Hewlett-Packard, Twitter, Zynga, Groupon and Alibaba.
No comments:
Post a Comment