Twitter is not focusing on generating a profit at the moment because of its long-term strategy, says an industry insider.
The social media service Twitter could be profitable if that was its current goal, but instead it is trying to ensure its long-term future, an industry insider has suggested.
Alberto Nardelli, co-founder of tweetminster.co.uk and chief executive officer of unltdworld.com, made his comments following the news that Twitter has secured new funding this week, from six different companies including Insight Venture and Benchmark Capital.
Mr Nardelli stated that this showed that the social networking platform is building a lasting business.
He explained: "Twitter could easily generate revenue today if it wanted to, instead and rightly so, they are focusing on creating long-term and durable value."
In terms of traffic, the website is now the fifth most popular social networking service with 1.27 per cent of the market share, according to recent figures by Hitwise.
The study showed Facebook and MySpace have the largest share with 41.75 per cent and 21.5 per cent respectively.
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