Saturday, June 25, 2011

The Social Network

Twitter is planning to blend adverts into the free micro-blogging service as the website looks to harness its profit-making potential.
It has so far failed to earn as much as other social media sites but hopes that 'promoted tweets' could change its position.
It is likely to draw complaints from users who have seen limited marketing over the five years since Twitter was set up.
This year the company expected to earn $100 million, a figure dwarfed by  Facebook's $3.5 billion profit.
Twitter was launched five years ago in New York after a brainstorming session among members of podcasting company Odeo - Jack Dorsey, Noah Glass, Evan Williams and Biz Stone.
it now has 300 million users with Lady Gaga, Justin Beiber and Barack Obama the most 'followed'.
The website is the world's second most popular social networking site after Facebook.
Twitter is the most popular social media service among FTSE 100 companies, a survey by web development firm The Group discovered earlier this year.
According to the study, 45 per cent of the UK’s blue-chip index now have Twitter accounts.
Twitter employs 450 people and has headquarters in San Francisco.
According to the Financial Times, Twitter executives, including head of revenue Adam Bain, have been meeting with potential investors at Cannes Lions this week.
The week-long event in the south of France sees communications experts gather to discuss new ideas.
Twitter first introduced 'promoted tweets' last year - which work similar to Google's advertising system, which appear when users search a particular topic.
The company is also looking for ways to offer enhanced profile pages for brands and tools that would allow brands to set pre-timed 140-character advertisements.
Users may also see a tweet from a brand they are following pop-up when they log-in, even if that tweet had been posted hours earlier.
It is thought the use of adverts could speed up the creation of new ad-blocking programmes.
Twitter refused to confirm or deny the report.

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