Twitter has 'no plans' to sell or go public
Page 1 of 1 • Share
Twitter has 'no plans' to sell or go public
[You must be registered and logged in to see this image.]
LAS VEGAS: Twitter, which has fended off several buyers, intends to remain an independent company and is not considering going public at the moment, chief executive Dick Costolo said.
"My sincere hope is for Twitter to be a successful independent company," Costolo said at a conference organized by technology blog AllThingsD website on the sidelines of the Consumer Electronics Show in Las Vegas.
"We've accomplished one percent of what we've set out to do and we have all this crazy potential," he said of the micro-blogging service which has attracted more than 175 millions users since it launched in 2006.
Asked about a potential initial public offering, Costolo said "I just don't think about it."
"We'll get to a point, I'm sure, when we'll have to start considering that," said Costolo who built and sold two companies, notably Feedburner, acquired by Google, before joining Twitter. "We're just not there yet."
A potential IPO by Twitter comes as another privately held social networking giant, Facebook, may be forced to go public next year because of an increase in the number of employees and investors holding shares in the company.
Costolo said for the moment Twitter's goal is to be present on more devices and platforms.
He said that an advertising program implemented last year that involves paid for "promoted tweets" was working "fantastically well."
"A couple of promoted tweets are in the top 10 promoted tweets of all time," he said. "It's a big enough business for us to be an independent company."
Twitter last month received an injection of $200 million in funding from investors to help fuel its growth, reportedly giving the San Francisco-based company a valuation of $3.7 billion.
"Our business plan is to continue to raise money," Costolo joked.
LAS VEGAS: Twitter, which has fended off several buyers, intends to remain an independent company and is not considering going public at the moment, chief executive Dick Costolo said.
"My sincere hope is for Twitter to be a successful independent company," Costolo said at a conference organized by technology blog AllThingsD website on the sidelines of the Consumer Electronics Show in Las Vegas.
"We've accomplished one percent of what we've set out to do and we have all this crazy potential," he said of the micro-blogging service which has attracted more than 175 millions users since it launched in 2006.
Asked about a potential initial public offering, Costolo said "I just don't think about it."
"We'll get to a point, I'm sure, when we'll have to start considering that," said Costolo who built and sold two companies, notably Feedburner, acquired by Google, before joining Twitter. "We're just not there yet."
A potential IPO by Twitter comes as another privately held social networking giant, Facebook, may be forced to go public next year because of an increase in the number of employees and investors holding shares in the company.
Costolo said for the moment Twitter's goal is to be present on more devices and platforms.
He said that an advertising program implemented last year that involves paid for "promoted tweets" was working "fantastically well."
"A couple of promoted tweets are in the top 10 promoted tweets of all time," he said. "It's a big enough business for us to be an independent company."
Twitter last month received an injection of $200 million in funding from investors to help fuel its growth, reportedly giving the San Francisco-based company a valuation of $3.7 billion.
"Our business plan is to continue to raise money," Costolo joked.
Maryam Mirza- Monstars
-
Posts : 981
Join date : 2011-06-18
Age : 32
Character sheet
Experience:
(500/500)
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
|
|
Sat May 04, 2024 11:49 am by ali001
» house disrepair claims
Thu May 02, 2024 4:29 pm by Ibad Khan Buledi
» Bounce n Bang: Physics puzzler
Thu May 02, 2024 11:39 am by ali001
» AIChatSY - AIChatbot Assistant
Wed May 01, 2024 10:48 am by ali001
» Storybook Magic App
Tue Apr 30, 2024 7:06 pm by ali001
» Flower Book Match3 Puzzle Game
Tue Apr 30, 2024 12:17 pm by ali001
» Avian Influenza Symptom in Chickens "Bird Flu H5N1 Virus" Vet learning materials, Poultry Farming
Sat Apr 27, 2024 9:57 am by Ibad Khan Buledi
» Aloha Planner - Note-Taker
Thu Apr 11, 2024 4:52 pm by ali001
» Streaming Guide Film TV Series
Tue Apr 09, 2024 9:39 pm by ali001