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Biz Stone: Twitter to begin making money by end of year
LONDON - Twitter founder Biz Stone says the company will add revenue generating tools by the end of 2009.
Twitter has struggled to find a way to monetise the service
According to Stone, Twitter will add services for businesses that will generate revenue for Twitter. The services could include an analytics dashboard to aid tweet monitoring, or verified corporate accounts.
Stone is hopeful companies like JetBlue, Coke and L'Oreal who already use the site to communicate with customers will be willing to pay for the service if it offered them greater depth of information on their followers.
Twitter has not yet unveiled a way to monetise its service and has yet to make a serious attempt. Last month, Twitter introduced geo-tagging which allows followers to find tweets based on location, which could potentially be used by advertisers to target users.
Rival Facebook depends on advertising and is said to be developing a virtual currency that users will be able to use to buy virtual gifts and game on the site.
More UK users visited Twitter than MySpace for the first time in August, indicating the growth of the microblog shows no signs of slowing.
This article was first published on revolutionmagazine.com
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