Twitter CEO Dick Costolo On the Business, IPOs, and Advertising
CNBC Media and Entertainment Reporter
Twitter CEO Dick Costolo took the stage at the Wired 'Disruptive by Design' conferenceand exclaimed "I appreciate everyone's concern for our business, but it's working phenomenally well."
He insists he doesn't see any need or urgency to think about an IPO.
"Our business is growing on its own organically and we have plenty of money in the bank from the private financing we did last year," Costolo said, so an IPO is not something he worries or thinks about.
What about a critique that there's a limited window for Internet IPOs and that Costolo should jump on it?
Costolo retorted that saying there's a limited IPO window is short-sighted thinking.
"If you have a great business and that business is growing in a way that's satisfying to you, you can be a public company whenever you want to be a public company," he said.
Are we in another Internet bubble? Costolo said he doesn't know and doesn't care, since it doesn't impact the way they're running the business.
Twitter's bread and butter, its advertising model, starts and ends with Tweets.
Ads must be in the format of Tweets, and in order for a brand to post an ad, they need to first send it out as a tweet. The idea is that ads on Twitter should have an inherent value — the kind of thing companies want to share with followers — and advertisers only pay when people engage with their promoted tweets.
Costolo said a billion Tweets are sent every 2 1/2 days or so, but he would not confirm reports that Twitter may be exploring premium accounts. He also didn't deny that the company was considering it.
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