Twitter, the microblogging service started by Jack Dorsey, Biz Stone, and Evan Williams started as an R&D project within the podcasting company Odeo around March 2006. Since then, the popularity of the company shot through the roof. The company has about $22 million in funding, a $250 million valuation based on VC, and reportedly turned down a $500 million stock offer from Facebook. The biggest problem with Twitter right now is the lack of a revenue model. They have all this funding and are paying a ton for server costs, but it is not yet known how money will come in to help curb these costs.
Biz Stone reported today that “We are noticing more companies using Twitter and individuals following them. We can identify ways to make this experience even more valuable and charge for commercial accounts.” Stone mentioned that they could use the way that brands are using Twitter for customer-service and marketing to charge for extra features. Stone mentioned that individual users would not be charged to use the service.
Some of the brands that have a presence on Twitter include Virgin, Cisco Systems, Jet Blue, Sun Microsystems, IBM, and Whole Foods.