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Technology / Data Centre

Fledging Twitter to get cash injection, delays ads

Micro-blogging company Twitter has confirmed there are no immediate plans to host adverts on its web site, ahead of a cash injection expected today which should see it primed with $100 million in financing in a deal that values the service at $1 billion.

Reports in the US and UK financial press suggest new investors that include T Rowe Price and Insight Venture Partners would join existing backers Spark Capital and Institutional Venture Partners in the round.

Co-founder Biz Stone who was speaking at the organisation’s inaugural Twitter conference in Los Angeles this week said advertising was no longer a business priority.

Instead, the company will concentrate on scaling the business, and adding new services such as paid-for commercial accounts and additional features such as analytics, so that people using the service can better understand the intelligence it provides. 

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CBR Staff Writer

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