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Twitter COO Effectively Rules Out 2010 IPO

Costolo says, "We have to catch up to our valuation"

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There’s almost no way Twitter will go public this year, according to the company’s COO, and it may not do so in the next couple of years, either.  The focus, instead, is supposed to be on firming up and building out the business side of things.

Twitter LogoAccording to Brian Womack and Cris Valerio, Dick Costolo said yesterday at a Bloomberg event, "My view of our financial future is like that old New Yorker cover where the New Yorker looks at the view of the United States and the IPO is way out west somewhere.  Bronx and Queens are our 2010 financial plan, and that’s what we’re focused on right now."

Costolo, who joined Twitter about four months ago after working for Google and cofounding FeedBurner, also stated, "We have to catch up to our valuation.  We’ve raised all this money.  We’ve created this global brand.  It’s one of the fastest – if not the fastest – growing brands in the history of the world.  Now we have to go build the business that lives up to that valuation."

These announcements may come as a relief to Twitter fans who don’t want to see it become part of another tech bubble.  Or they might disappoint, since a lot of folks would probably prefer to see Twitter straighten out its revenue problems in the very near future.

Anyway, ads and paid accounts are still the first things Twitter intends to try in its search for a steady stream of money.

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Twitter COO Effectively Rules Out 2010 IPO
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  • http://www.seo4all.co.uk Gill Keeble

    Aren’t they concerned that in the fast moving internet world something else will be the NEW thing in a couple of years time and that twitter will be old hat and not worth much. Their time scale seems strange to me.

  • http://www.duran-seo.co.il Duran seo

    It is true that twitter has to bear inormous expenses on its rapidly growing community of users, deleting old tweets to withstand the overload.

    we must think of an option where twitter as a ervice to the web will be funded by donations from its users, just as wikipedia is survivng because it is vital to mankind, twitter may one day become a non profit organization.

    after all we really love tweeting don’t we ?

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