Twitter not filing for IPO anytime soon
In light of social network Facebook’s recent IPO filing, Twitter CEO Dick Costolo said that he is under no pressure to do the same with the micro-blogging site.
“We are going to remain private as long as we want. I like being private for all sorts of reasons. It allows us to think about the business and the way we want to grow it … as opposed to being beholden to a particular way of growing the business, such as quarter to quarter,” he told the Los Angeles Times.
Costolo also added that more than half of the site’s 140-million users log in everyday, their mobile usage is on the increase, and that users figures in the Middle East is increasing dramatically to the tune of about 3 000% for last month.
He also revealed that 80% of users in Japan and the United Kingdom access the network primarily from mobile devices and more than half of overall users do too.
“I have every confidence the business will scale. There are already some days when we make more money from mobile than non-mobile.”
Although the company is doing well, Costolo said that a number of changed will be made in the future, namely blocking abusive or political tweets.
“It can end up being a place that’s easier for people to hide behind hate speech. We have to be thoughtful about all that.”
But Twitter has not been without its faults, as the website suffered a severe outage recently, which was the longest in eight months. This is something that Costolo would like to address in the future, as it is unacceptable for him – but sees the potential of learning from it.
“It’s a metaphor for the entire company. My view is that the company is on its way to being one of the permanent residents of the digital media constellation,” he concluded.
Charlie Fripp – Consume Tech editor