WHEN: Today, Wednesday, April 30th
WHERE: CNBC's "Squawk on the Street"
Following are excerpts from the unofficial transcript of a FIRST ON CNBC interview with Twitter CEO Dick Costolo. Following are links to the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000270533 and http://video.cnbc.com/gallery/?video=3000271519.
All references must be sourced to CNBC.
COSTOLO ON INCREASED VALUE
3.3 BILLION VIEWS OF THE TWEETS ABOUT THE OSCARS, 3.3 BILLION OF TWEETS JUST ABOUT THE OSCARS, IN THE 48 HOURS AFTER THE OSCARS. IF YOU COMPARE THAT NUMBER BECAUSE IT'S A BIG NUMBER, TO SOME OF THE YOUTUBE CONTENT NETWORKS WITH THOUSANDS OF VIDEO CHANNELS, THOSE CONTENT NETWORKS WILL GET 3.3 BILLION VIEWS IN A MONTH. WE HAD THAT IN 48 HOURS. SO THE PLATFORM IS ALREADY MAINSTREAM. IT'S JUST SHOWING PEOPLE THE INCREASED VALUE THAT THEY RECEIVE WHEN THEY LOG INTO THE PLATFORM AND CREATE THEIR OWN TIMELINE.
COSTOLO ON NO SECONDARY OFFERING
WE HAVE NO CURRENT PLANS TO HAVE A SECONDARY OFFERING. YOU'VE SEEN MOST OF THE OTHER COMPANIES IN OUR SPACE HAVE THOSE FAIRLY QUICKLY ON THE HEELS OF THE IPO. WE HAVE HAD NO PLANS TO DO THAT BECAUSE MOST OF OUR MAJOR SHAREHOLDERS HAVE NO DESIRE FOR IMMEDIATE LIQUIDITY.
COSTOLO ON TV
THERE HAS BEEN AN EVER-GROWING WEALTH OF THIRD-PARTY RESEARCH FROM FOX RESEARCH, FROM NIELSEN AND OTHERS THAT SHOW CAUSAL RELATIONSHIP BETWEEN TWITTER AND TUNE IN TO TV. IN FACT, THE NIELSEN RESEARCH SHOWED SPECIFICALLY THAT THERE WERE THREE THINGS THAT DROVE TV RATINGS, PROGRAMS RATINGS – ANDTHOSE WERE LAST YEAR'S RATINGS, AD SPENT FOR PROMOTING THAT PROGRAM AND TWITTER.
COSTOLO ON ACQUISITIONS
I DON'T FEEL ANY PARTICULAR COMPUNCTION TO GO OUT AND DO SOMETHING DIFFERENT JUST BECAUSE OTHER PEOPLE ARE DOING THAT. WE HAVE A VERY CLEAR FOCUS ON STRENGTHENING OUR CORE. WE ARE FOCUSED ON THREE SPECIFIC THINGS – GROWTH, OPERATING LEVERAGE AND OPERATING EFFICIENCY.
COSTOLO ON MARGINS
I'M FOCUSED ON THREE THINGS – GROWTH, OPERATING EFFICIENCY AND OPERATEING LEVERAGE. THAT SECOND AND THIRD ARE ASBOLUTELY IN SERVICE TO STEADILY IMPROVING MARGINS. STEADILY IMPROVING MARGINS. SO AS A HIGH GROWTH COMPANY WHAT I WANT TO MAKE SURE WE'RE DOING IS NOT STARVING THE GROWTH ENGINE WHILE CONSTANTLY FOCUSING INTERNALLY ON GETTING BETTER AND BETTER AT OPERATING EFFICIENCY AND OPERATING LEVERAGE IN SERVICE TO MARGINS.
COSTOLO ON MARK ZUCKERBERG
I'M NOT FRIENDS WITH ZUCKERBERG ON FACEBOOK BUT I AM FRIENDS WITH MARK. I THINK MARK IS JUST SUPER INSIGHTFUL ABOUT THINKING ABOUT THE MARKET AND THE INDUSTRY AND PLATFORMS IN A DIFFERENT WAY THAN OTHER PEOPLE DO. HE KIND OF LOOKS AT IT FROM A DIFFERENT ANGLE THAN OTHER PEOPLE DO AND I THINK THAT'S -- I ALWAYS FIND THOSE CONVERSATIONS INSIGHTFUL.
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