Twitpic turns a profit out of Twitter
LONDON - As Twitter pushes forward with its plans to make cash out of its service, one business piggy-backing the micro-blogging site, TwitPic, is already turning a profit.
Twitpic: Twitter success story
TwitPc, launched in 2008 by Noah Everett, allows Twitter users to quickly share photos on the microblogging service and has become one of the most popular of the third-party Twitter services.
Everett has now said the site made between $1.5m and $2m in advertising revenue in 2009 and about $700,000 in profit.
"Our goal and our projection is seen to put us at about three to four [million dollars] in about a year or so depending. And that's our goal. As of right now with our current revenue we're holding a 70% profit margin," Evertt said.
On the back of Twitter's popularity the site has become one of the 100 most visited websites in the world and now has around 6.5 million registered users.
According to the report, Everett was recently offered an eight figure sum to sell his creation, but there are no details on who the buyer might have been.
The news about TwitPc turning a profit follows the story earlier this week that Twitter itself was increasing its focus on making money by hiring staff whose job it is to specifically focus on monetisation projects such as licensing deals and media partnerships.
Twitter's website said it was looking "for new members of our technical staff to work on cutting edge monetization projects".
The roles on offer including product marketing manager for monetisation as well as three software and systems engineering roles.
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