Busi­ness BRIEF­ING

Weekend Argus (Saturday Edition) - - BUSINESS -

Twit­ter launches self-serve ad­verts

SAN FRAN­CISCO: Twit­ter Inc said it would in­tro­duce self­serve ads for small- and medium- sized busi­nesses in three coun­tries out­side the US, mark­ing one of its first moves to ex­pand rev­enue as a pub­licly listed com­pany.

Busi­nesses in the UK, Ire­land and Canada will be able to buy “pro­moted” ads that can be shown to tar­geted Twit­ter users be­gin­ning this week, the com­pany said on Thurs­day.

Twit­ter held a suc­cess­ful ini­tial pub­lic of­fer­ing last week that raised $1.8 bil­lion. Its stock price has since soared, im­ply­ing a mar­ket cap­i­tal­i­sa­tion of more than $24bn.

Twit­ter, which made $317 mil­lion in rev­enue in 2012, gen­er­ates the ma­jor­ity of its sales through sell­ing ad pack­ages di­rectly to large com­pa­nies and in­ter­na­tional brands such as Ver­i­zon Com­mu­ni­ca­tions or Sam­sung. – Reuters

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