Twitter expects hundreds of advertisers

Twitter, the rapidly expanding microblogging service, plans to have hundreds of advertisers using its new ad system in the fourth quarter as the company ramps up plans to become a self-sustaining, profitable business. Chief Operating Officer Dick Costolo said the company’s newly-launched advertising system would provide a key pillar in Twitter’s plans to turns its popular service into a significant money-making operation that can justify its rich valuation. Costolo said he believed the company will eventually become profitable. But he declined to provide a timeframe for achieving profitability, which the company is currently hoping to generate from its advertising system and a forthcoming commercial accounts business, due to launch in July or August. The company is currently in the process of adding roughly another dozen advertisers to its so-called “Promoted Tweets” program which it unveiled with five participating advertisers last month, Costolo said. By the fourth quarter, Costolo expects hundreds of advertisers.

http://uk.reuters.com/article/idUKTRE64I0C920100519

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