Twitter CEO Discusses Whether Twitter is a Media or Technology Company

  • In an interview with The New York Times, Twitter CEO Dick Costolo addresses whether the micro-blog is a media or technology company, describing it as some variation of both.
  • “I think of the company as a technology company that is in the media business,” says Costolo. “Our business is an advertising business, we don’t sell technology… I don’t need to be or want to be in the content business.”
  • Instead of encouraging external Twitter apps, Costolo is building a Twitter platform with its own API.
  • In a recent example, Twitter featured tweets from Pocono 400 drivers and teams last month. “The NASCAR-branded page that Twitter highlighted in television ads was incredibly visceral, with pictures from inside driver’s cars. Fans could practically smell the fuel from the pit,” notes NYT.
  • Twitter has announced a similar page for the Olympics.
  • Engagement rates with ads especially on mobile have been better than with traditional Web ads.
  • “Our vision for the company is simple: Twitter brings you closer,” concludes Costolo. “You can say something now and broadcast and everyone around the world sees it immediately.”