Twitter Still Hasn't Figured Out Its Business Model: CEO

Internet sensation Twitter now has 32 million users—up from just 1.6 million a year ago—but the private company still hasn't solidified its business model, CEO and co-founder Evan Williams told CNBC. 

"People seem to be a little obsessed with that at this conference, but it's early for us," Williams said in a live interview at the Digital Conference in California on Wednesday. "Fortunately we have time to figure out the business ...  It's going to take a little bit."

Despite the uncertainty, Williams said he's considered implementing ads onto the site and possibly charging a fee for businesses and celebrities who use the service as a public relations or marketing tool.

"There [is] a lot of business use on Twitter today, from small cafes that are sending out their special of the day and connecting with their customers that way, to big brands like Comcast and Starbucks who are using it for marketing and customer service," Williams said.

He added that whether a user enters the site for personal or professional purposes, pretty much everyone has a reason to visit. This provides the company with unlimited potential.

And it's because of this potential that Williams rejected Facebook's $500 million offer to purchase the company, adding that he would even turn down a $1 billion offer.

Still, Williams didn't reject the idea of joining with the social networking site, saying "we're open to different possibilities."

"We think we can grow a longterm, sustainable and valuable business," he said, "and we're just getting started."

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