|Dick Cotsolo, CEO Twitter. Reuters|
Dick Costolo, joined twitter as Chief Operaitng Officer in September 2009, and was the man behind the so called Promoted Tweets. Dick Costolo joined Twitter after selling his own internet company FeedBurner to Google in 2007. He has replaced Evan Willaims, the second CEO and co-founder of Twitter
The move is part of the efforts to justify investors, that twitter is a popular social networking website and one of the busiest status updating platform on the whole web. the idea is to furthure monetize the company in order to generate greater dollars through the advertisements. presently around 40 to 50 comapnies are part of the so called Promoted tweets, which are short marketing messages.
Research done by eMarketers shows that the revenue generated by social networking sites would increase by 31 percent to $3.3 billion this year, and estabilished companies such as the Microsoft, Google and Yahoo would loose the dollars, with an increasing competition from Facebook and Twitter.
Reuters: Trades of Twitter's private shares by investors on Sharespost, a secondary market for shares of private companies, in July imply a valuation of $2.8 billion and alot of investors are monitoring the financial health and stats of twitter. In future some want to be part of the 165 million user company, owing shares in it when it goes public.