Every time we report about Twitter, we recount its evolution from its days as an unassuming start-up project from tech industry leader Jack Dorsey, to playing a key role in major social and political change across the globe. As our desire for instant gratification and constant social sharing grows, so does Twitter’s bottom line.
In a blog post this past Monday, August 1st, Twitter confirmed recent speculation that it has received a “significant round of funding” headed by DST Global, a venture-based firm with investments in many social networking businesses, including Facebook. The same day, the company opened a brand new location on Madison Avenue in New York City, the heart of the ad world. As reported by All Things Digital, DST will be the biggest contributor, investing $400 million in the total $800 million worth of new funding. In the official blog, Twitter states, “We will use these resources to aggressively innovate, hire more great people and invest in international expansion.” Last week, the company added three leading marketing executives to its senior management team, including Joel Lunenfeld, CEO of digital ad agency Moxie Interactive, Pam Kramer of E-Trade and J.B. Kropp, former VP of strategic partnerships for Vitrue, a marketing software firm for Facebook.
Most experts believe Twitter will use the latest round of funding to hire more sales team members. While the social site has hundreds of millions of users, it’s still a little green in terms of ads. The Facebook marketing structure has been clear and its benefits measurable for years, while Twitter refers to many of its ad offerings as “experiments” and “tests,” creating the need for talented sales professionals.
While Twitter marketing still has a ways to go, its immense popularity is enough to attract serious investors that currently allow the company to “experiment” with different ad schemes. If you are considering launching a social media marketing campaign, contact Blue Interactive Agency to find out how to effectively execute your foray into the world digital advertising.