Twitter ramps up ad efforts, no rush for IPO

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Twitter ramps up ad efforts, no rush for IPO

Post by NewsOnline on Fri Sep 09, 2011 3:25 am

Twitter ramps up ad efforts, no rush for IPO

Reuters) - Twitter is preparing to broaden the areas of its service where ads appear, but the company is in no hurry to undertake a hotly-anticipated initial public offering.

"We want to be able to remain independent, grow the business the way we want to, and not be beholden to public markets until we feel like we want to be," Twitter Chief Executive Dick Costolo told reporters at a briefing at the company's San Francisco headquarters on Thursday.

Twitter, which raised $400 million in venture capital financing this summer, is stepping up efforts to generate advertising revenue, Costolo said.

The company began showings ads in limited parts of the service in 2010, purposely taking a cautious approach so as not to annoy users. But Costolo said the results, including the interaction with ads by Twitter users, have far exceeded Twitter's expectations.

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