Tuesday, November 24, 2009

Twitter eyes acquisitions, sees making money in 2010

Micro-blogging site Twitter is interested in making more acquisitions as it continues to grow in popularity, co-founder Biz Stone said on Tuesday.
"That is something we are definitely interested in," Stone told a news conference in Tel Aviv. "We made an acquistion last year that turned out to be an outstandingly good decision."
He said there was nothing specific on the horizon.
"As our attention is grabbed by some of these developers, we will take a hard look at them," Stone said.
Twitter bought search engine Summize in 2008.
Stone said Twitter will "start making money" in 2010 as it unveils a plan early next year on how it will produce revenue through advertising. He declined to give details but said advertising will be "non-traditional".
"There are no dates when we need to break even. We have plenty of money in the bank," he said.
In September, Twitter received a new round of funding from investors including mutual fund giant T. Rowe Price and private equity firm Insight Venture Partners, which analysts said set the stage for an eventual initial public offering or sale.

Nitika
PGDM-3rd sem
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