Twitter CEO says company is ‘already making money’

Dick Costolo Twitter Chief Executive said that the microblogging site is ‘already making money', but he did not clarify whether this was profit or revenue.

Costolo made the comments during a webcast keynote address at the Mobile World Congress in Barcelona, but a follow up Q&A was not streamed onto the net.

Twitter have been growing well over the last couple of years, but Costolo admitted that they have to do a better job of getting users engaged with each other, a step which will make them use the service more. A problem which Facebook does not have to worry about.

According to Costolo, the mission statement of Twitter is to “instantly connect people everywhere to what's most meaningful to them.” With over 130 million Tweets per day the service is growing rapidly.

He also said that in New Years Eve in Japan, they set a record of 6,000 tweets per second, staggering. Statistics also show that 40 percent of all tweets now are produced from mobile devices, such as smartphones and tablets.

Google and Facebook have apparently already held low level talks about a Twitter ‘takeover'. Valuations have show than Twitter is worth anywhere between $8 and $10 billion, however they lost money on $45 million revenue in 2010. They are said to generate between $100 million and $110 million in revenue in 2011.

KitGuru says: The platform now has over 200 million registered users and with the recent introduction of advertising they are hoping to turn the business platform into a profitable business.

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