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Twitter gearing up to capture ad market

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CIOL Bureau
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BANGALORE, INDIA: Twitter management is slowly trying out things to start cashing in on the explosive growth it posted in the last two years.

In the last two weeks, the company has announced several advertising plans. Last week, it added three avenues of advertising - Promoted Promotions, Promoted Accounts and Promoted Products for Partners. The micro-blogging platform also began publishing ads on Twitter apps, starting with HootSuite. Twitter will split the ad revenue evenly with HootSuite and the other companies that make apps, The New York Times said.

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This is the major move of this kind since April, when the company introduced Promoted Tweets, an ad program.

At management level itself, the company has made an important change by promoting Dick Costolo, the chief operating officer when Evan Williams, the co-founder and chief executive of Twitter, decided to step down to lead product strategy at the company. This move is also considered to be part of Twitter's money making efforts.

The report also said that Costolo has plans to offer a self-serve tool for local businesses to buy Twitter ads, and is working on ways to deliver those ads based on location.

Twitter has grown to 160 million users, from three million, in the last two years, and many likens this saga to that of Google and Facebook, now a 'must buy' for online advertisers.

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