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New sign-ups triple with iOS5 update and integration and company now valued at around $8 million
The birds are getting louder and faster as the number of daily tweets hit a quarter billion.
This new 250 million per day, nearly triples the 90 million tweets that were quoted last year by co-founder Evan Williams. Costolo pointed out that the platform has also seen a substantial boon in signups on the tails of the iOS5 upgrade and Twitter integration last week -- tripling the rate of signups in recent days -- and pushing the user number over the 100 million account mark.
The iOS5 update allows i-product users the option to tweet their photos right from the iPhoto application, if a Twitter account is installed on the phone. This integration illustrates how powerful Apple considers the San Francisco company since it could have been just as easy to integrate Facebook, Foursquare or Flickr.
Show me the money
But Costolo still had more to announce about his company's booming social site since he valued the company at near $8 billion.
"Let's call it an even $8 billion, " Costolo announced as the dinner speaker at The Palace.
This valuation comes just two months after the company secured a "significant" funding deal from DST Global, estimated at $800 million.
All of these numbers spell a great future for Twitter's future advertising and promotion sales. Since the company is poised to generate $260 million in advertising next year, the recent boost and continued momentum equals more money from the companies that want to have their tweets and their Twitter handles rise to the top.
Adam Bain recently states that promoted trends, where a company advertises on the pages where a trend or hashtag is, can cost $120,000 per day.
Also, just as the political season was warming up late in the summer, Twitter got into the political advertising business and will likely see a greater interest in this arena since every political candidate has some Twitter presence.
Several months back, Costolo touted that 80 percent of advertisers that have worked with the company were bringing their cash back time and again.
Ads up. Users up. What’s next?
With the continued growth of sharing on Twitter, I would like to know how Twitter will measure and deter the spamming and noise that makes it way onto the site. While many tweets are genuine insertions in the online conversation, Twitter has not revealed what percentage of Twitter handles or tweets are considered spam and how many accounts are cancelled or flagged in the routine maintenance process.
Without this needed information, naysayers will continue to shrug off the impressive stats that Twitter releases as just filler and noise -- with more transparency and a vow to clear the clutter, the company’s success can’t be refuted.
Costolo also announced that Twitter is working on allowing users to see the tweets beyong the 3,000 threshold that currently exists.
“We want to be able to access old Tweets and old DMs, we just have to prioritize the work,” he said at Web 2.0. ” It’s just a matter of priorities, [but] we need to get to the point when we’ll be able to do this.”
At this point, Twitter no longer needs to prove that people are using the service but rather that its revenue is sustainable and once it does that, the company will secure itself as a successful innovation giant much like Amazon or Apple. Next stop IPO?
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