Log in to your IBTimes Account

close
ID
Password

Twitter aims more acquisitions in 2010



By Jonathan Ong
25 November 2009 @ 09:50 pm AEST

Co-founder Biz Stone said on Tuesday that Twitter is interested in making more acquisitions next year as it continues to grow in popularity.


1 of 1

The micro blogging site has already acquired search engine Summize in 2008.

"That is something we are definitely interested in," Stone told a news conference in Tel Aviv. "We made an acquisition last year that turned out to be an outstandingly good decision."

Stone also said Twitter will "start making money" next year as it plans to produce revenue through advertising. He declined to give any details on the matter but only said advertising will be "non-traditional."

There is, however, no rush for Twitter to start making money. In September, the site received a new round of funding from investors including mutual fund giant T. Rowe Price and private equity firm Insight Venture Partners, which analysts said set the stage for an eventual initial public offering or sale. Sources say the new funds totalled $100 million, theoretically valuing the company at $1 billion.

"There are no dates when we need to break even. We have plenty of money in the bank," Stone said.

Stone said Twitter was looking to "partner with as many websites" as possible and that Twitter would keep its platform open for developers. The micro blogging site last month forged search deals with Microsoft and Google. It also linked up with professional social network site LinkedIn earlier in November.

Twitter is one of the fastest growing internet companies, recording a total of 44.5 million visitors in June, according to tracker comScore.

This article is copyrighted by Ibtimes.com.au.

    Click!
  • Rate this article:

Comments

Post Your Comment

*Name


advertisement

advertisement
 
IBTimes.com.au Web
 
International Business Times© 2010 The Ibtimes Company. All Rights Reserved. Partners