Twitter Building Team To Turn Profit
Twitter Building Team To Turn ProfitJan 12 2010 - Business, Social media - Farhad Divecha
Twitter has slowly but surely been turning their focus towards creating revenue from the site. According to a report from Reuters, Twitter has now started building a team that would help them to make money from the free service they are providing to their customers.
The popular microblogging site which started out about two and a half years ago, was initially focused only on building up their popularity by offering a free micro-blogging service to their users. Recently they have changed focus and started paying attention to monetisation.
Twitter has put up job postings that indicate that the priority for the new recruits would be “cutting edge monetization projects”.
Of the 26 jobs on offer, 4 are specifically devoted to monetising the site. Another 2 jobs are aimed at “striking licensing deals” with other sites.
Twitter has now reached a stage where they have become extremely popular. They know that they must now become self-sufficient if they want to continue to grow. They currently have about 120 employees, who constitute the company’s second largest source of expenses.
In October last year, Twitter made licensing deals with Google and Microsoft, allowing their tweets to appear on the search engine results page. These deals earned them $25 million, helping them to post a small profit then, but further innovation is a must for continued growth.