Twitter CEO Dick Costolo is set to close the second of the two $400 million rounds of Series G funding later today. This round, which is primarily intended to buy out existing shareholders, has catapulted Twitter’s valuation to a new height of $8 billion.
During a press conference on Thursday, September 8, Twitter executives emphasized their desire to focus on growth rather than on pleasing stock market investors.
Twitter, which has seen exceptionally high advertisement engagement rates from its users, is exploring additional monetization methods.
During a recent press conference, Costolo said:
“We want to be able to remain independent, grow the business the way we want to, and not be beholden to public markets until we feel like we want to be.”
Costolo also said the results had exceeded Twitter’s expectations and indicated that Twitter is planning to increase users’ exposure to advertisements:
“We now feel that based on the engagement rates we’re seeing . . . that we’re ready to expand this further.”
Twitter’s bosses said that users will tolerate seeing advertisements and promoted tweets on their pages.
Previously, promoted tweets, such as a message promoting a coffee chain, would only appear if the user already followed that particular company.
He said the business could work relying solely on advertising income: “It’s our firm belief that our advertising platform is the only revenue component that we need to have in the market in order to be a huge independent business.”