Twitter has 'no plans' to sell or go public

Jan 08, 2011
Political supporters in Brazil learn how to use Twitter to spread information about a candidate. Twitter, which has fended off several buyers, intends to remain an independent company and is not considering going public at the moment, chief executive Dick Costolo said.

Twitter, which has fended off several buyers, intends to remain an independent company and is not considering going public at the moment, chief executive Dick Costolo said.

"My sincere hope is for Twitter to be a successful independent company," Costolo said at a conference organized by technology blog AllThingsD.com on the sidelines of the in Las Vegas.

"We've accomplished one percent of what we've set out to do and we have all this crazy potential," he said of the micro-blogging service which has attracted more than 175 millions users since it launched in 2006.

Asked about a potential initial public offering, Costolo said "I just don't think about it."

"We'll get to a point, I'm sure, when we'll have to start considering that," said Costolo who built and sold two companies, notably Feedburner, acquired by , before joining Twitter. "We're just not there yet."

A potential IPO by Twitter comes as another privately held giant, , may be forced to go public next year because of an increase in the number of employees and investors holding shares in the company.

Costolo said for the moment Twitter's goal is to be present on more devices and platforms.

He said that an advertising program implemented last year that involves paid for "promoted " was working "fantastically well."

"A couple of promoted tweets are in the top 10 promoted tweets of all time," he said. "It's a big enough business for us to be an independent company."

last month received an injection of $200 million in funding from investors to help fuel its growth, reportedly giving the San Francisco-based company a valuation of $3.7 billion.

"Our business plan is to continue to raise money," Costolo joked.

Explore further: EU Parliament votes to break up Google

add to favorites email to friend print save as pdf

Related Stories

Twitter valued in billions as popularity climbs

Dec 15, 2010

A fresh infusion of investment cash pushed Twitter's market value up to 3.7 billion dollars on Wednesday with the number of people using the microblogging service climbing to 175 million.

Twitter co-founders are mum on revenue plans

May 27, 2009

(AP) -- Twitter Inc.'s co-founders say the rapidly growing online communications company will eventually charge fees for its services, but it's unclear which ones and what will drive revenue.

Recommended for you

EU Parliament votes to break up Google

8 hours ago

The European Parliament voted overwhelmingly for the break-up of Google Thursday in a largely symbolic vote that nevertheless cast another blow in the four-year standoff between Brussels and the US Internet ...

Toyota finds new air bag issue, recalls more cars

13 hours ago

Toyota Motor Corp. recalled more than 40,000 vehicles in Japan on Thursday as part of a worldwide scare over defective air bags and is investigating a new type of air bag problem that could lead to further recalls.

Netflix sues Yahoo CIO for alleged kickbacks

Nov 26, 2014

Netflix is suing a former company vice president who is now chief information officer at Yahoo, accusing him of receiving money from vendors he hired to work with the video streaming company.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.