OTT giant could become big in mobile advertising sector
Eating its own cooking, OTT messaging service, Twitter, has set the Twittersphere alight by tweeting that it intends to list in the USA. Twitter tweeted yesterday [September 12th 2013] that it had applied to the US Securities and Exchange Commission for the go-ahead to sell shares. The move follows Facebook’s $104 billion (£66 billion) stock market launch in May 2013. Facebook has been able to restore faith in its shares by proving that it could make money out of mobile advertising. Hence, observers predict that Twitter will go heavily into mobile ads. After all, earlier in 2013, the company announced that it had surpassed 200 million users and there’s been increased advertising activity on the site already.
Reports suggest that the 900 employee company could be valued at around $10 billion (£6.3 billion).
Twitter was founded by chairman Jack Dorsey back in March 2006.