Twitter CEO says 80 percent of advertisers renew

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Twitter CEO says 80 percent of advertisers renew

Post by NewsOnline on Thu Jun 02, 2011 3:10 am

Twitter CEO says 80 percent of advertisers renew



(Reuters) - More than 80 percent of the companies that advertise on Twitter renew their marketing efforts on the microblogging service, the company's chief executive said on Wednesday.

But while the Internet company is focused on building an advertising-based business, CEO Dick Costolo said the company's future was not dependent on floating shares in an initial public stock offering.

Twitter's long-term success is not "correlated" with an IPO, Costolo said at the D9 conference, organized by the News Corp-owned tech news blog AllThingsDigital.

Read more at: http://www.reuters.com/article/2011/06/01/us-twitter-idUSTRE74U70720110601

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