As reported on March 3 when venture capitalists handed $35 million to Twitter, Twitter executives were in no hurry to monetize their free service, stating that they wanted to focus their attention on building and delivering a great service. Since they had plenty of money on-hand, the monetization would come when they decided some of their attention could go towards advertisers.
Twitter’s co-founder Biz Stone has confirmed reports that a project manager has been hired to develop commercial accounts which would provide additional Twitter services for a fee. Some features that are being discussed are company branding and tracking and statistics which would allow users to see how many people are reading their Twitter page.
Twitter has been exploding in popularity since it first began three years ago. Just one year ago, they were receiving 475,000 unique visitors per month. As of February 2009, their website was bringing in more than 7 million unique visitors monthly.
Twitter users should expect to see monetization efforts being implemented before the end of 2009. It will be interesting to see what becomes available for advertisers at that time. No doubt when advertising opportunities and account upgrades become available they will begin making millions.