Tuesday, May 26, 2009

Today's Fly Or Die Commerce Report: The Growth of Twitter

Twitter's founders, Evan Williams and Biz Stone, are reportedly in a rush to keep up with their company's growth. According to The Wall Street Journal, the internet site's user numbers have increased from 1.6 million a year ago to its current status of approximately 32.1 million users. The Wall Street Journal states that Twitter currently employs 45 people; however, there is a dearth of people with sales or business experience in the mix.

Twitter is a free online "micro-blogging" service that allegedly doesn't sell advertising space or have a revenue stream. In my opinion, this indicates that the company may possibly be building its site up to sell it for a large price in the future. The Wall Street Journal opines that Twitter may be seeking partnerships with larger internet sites or advertising companies in the near future.

The Wall Street Journal reveals that Twitter raised $35 million from venture capitalists in February of this year; and in that same month received a valuation of $255 million. It should also be noted that one of Twitter's founders, Evan Williams, sold the Blogger site to Google in 2003.

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