CNN Money: Twitter COO: Still not profitable
Dick Costolo, COO of the micro-blogging site explains how Twitter hopes to one day turn tweets into profit.New York Magazine's Daily Intel Blog has some snarky commentary, which reads as follows.
Dick Costolo, Twitter COO, said the micro-blogging site's "promoted Tweets," or ads thinly disguised as tweets, have been successful, but not successful enough to make Twitter profitable. "They're effective, advertisers love them. We're making as much money as we need to make off of them right now," he told CNN reporter Laurie Segall. But promoted tweets will be "just one pillar of monetization" in the future, when Twitter is hemorrhaging cash. For now, while the site has rapidly embedded itself in the culture, is the company even making money? "We're just," he stammered. "We're not profitable right now. The specific thing I say over and over is that we've got plenty of time to grow. We're not worried. The profits will come." So lay off, Laurie!Looks like Twitter is at least two years behind Facebook, which finally earned a profit last year.