Twitter Adds ‘Promoted Accounts’ and Readies for Revenue-Generating Business Module, Dick Costolo New CEO

Written By Sam on 5 October 2010

Within a year of its existence Twitter has grown into one of the most popular social networking products attracting celebrities, non-celebrities and companies. This year saw the service launch features like ‘Promoted Trends‘ and ‘Promoted Tweets,’ and now the latest ‘Promoted Accounts’. ‘Promoted Accounts’, presently available to only select brands, will be displayed in the ‘Who to follow’ section of Twitter’s website. That is to say, Twitter will suggest relevant promoted accounts to its users. For example, gaming enthusiasts who follow several gaming-related accounts usually also follow @xbox. If someone follows gaming-related accounts, but not @xbox, Twitter may recommend @xbox to that person.

In related news, Twitter co-founder Evan Williams stepped down as CEO, paving the way for the website’s COO Dick Costolo spearhead the venture. Explaining the unexpected move, Williams said he was more interested in tinkering with the Twitter product than turning tweets into cash. There is no word on who will fill in as Twitter’s COO yet. But the move is a hint that Twitter is now serious about minting money. And why not? The 20-staff startup is now 300 employees strong. So while Williams now reverts to focusing on product strategy, Costolo is expected to ensure money gets pumped into the venture (meaning more ads into Twitter?). His challenge, of course, will be ensure the revenue-generating exercise does not turn off users.

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