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Twitter the Right Way

OMMA Magazine ran another article on the financial viability of social media phenomenon Twitter. The article focuses on the problems traditional advertisers have using Twitter as a platform for direct marketing. Here at Corporate PA we employ social networks such as Facebook and Twitter less directly but more successfully for two purposes: targeting market segments and directing traffic.

MediaPost Article
Whether it is a welcome bit of techno optimism in an otherwise dour market, or the enduring legacy of denial on the Web, San Francisco-based microblogging service Twitter is living the online vida loca. Twitter - founded in 2006 by Jack Dorsey, Biz Stone and Evan Williams - leapt into the No. 3 spot for all social networks in February, right behind giants Facebook and MySpace, according to TNS's Compete.com.

Twitter made the jump from ranking 22 - sites like tickle.com and fubar.com litter this part of the Web. The formula has captured the national zeitgeist, after becoming a fixture of the Obama election campaign. Most media outlets now support active Twitter feeds, and major advertisers from Dell to Zappos now market with the service.

All this hype has caught the imagination of otherwise reluctant investors. At the end of January, rumors began to circulate of a $250 million valuation of the business, on reports of $35 million raised. Twitter declined to comment directly. But a spokesperson for Institutional Venture Partners, a Menlo Park, Calif.-based later-stage investment firm, confirmed it has invested in the company - as did Andrew Parker, an associate at Union Square Ventures, a New York-based investment company.

The magic or lunacy of Twitter - depending on your perspective - is that for all the buzz, the company is not only not profitable, it is not even clear on how it will make money at all.

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