Evan Williams: Twitter has a “lot of money in bank”

.

Evan Williams: Twitter has a “lot of money in bank”

Addressing an industry gathering at Web 2.0 Summit in San Francisco this week, Evan Williams - the founder of the popular microblogging site Twitter - said that his company was not running low on cash.

The statement by Williams that Twitter had "a lot of money in the bank" comes amid media speculations that a large round of funding is apparently on the cards for Twitter - one of the most popular internet social networking services, presently having over 175million users.

Williams, however, stopped short of commenting about whether Twitter was in discussions with investment companies about funding.

It has only been in the recent times that San Francisco-based Twitter - which allows its users to broadcast messages, called `tweets, of 140 characters, to groups of "followers" - has started making efforts to generate revenue via special adverts appearing in some parts of its service.

Noting that there are "a million ways" in which Twitter can make money, Williams said that Twitter's newly-instituted revenue model of allowing businesses or people pay to "promote" tweets to attention-grabbing spots was "going great."

Though Williams refrained from disclosing any financial details, he did mention that Twitter's initial endeavors in the direction of generating advertising revenue had surpassed the company's expectations.


Latest News

Rhode Island Hires Regional Economic Models to Figure Out Economic Impacts of Pr
August Car and Truck Sales Peak in the U.S
Lawsuit by Uber Drivers Granted Class Action Status by Federal Judge
Starting October 6, McDonald’s will Start Rolling Out All-Day Breakfast in the U
Blue Bell Returned to Central Texas and Houston on Monday
China PMI Slips to Three Year Low Pushing Gold Higher
Investors Retreat from Earlier Gains Pushing Oil Prices Down by Three Percent
Weak China PMI Raise fears, Asian Shares Slip Again
Springdale, the Small Utah town Finally Repeals Chain Restaurant Ban After a Dec
Oshkosh Corporation Won a $30billion Contract for Replacing Humvee Units of the
Federal Reserve Vice Chairman Fischer Hints Inflation is Likely to Rebound Permi
Trib Total Media Plans to Sell Nine Newspapers including Four Daily and Five Wee