updated 12:09 pm EDT, Sun June 3, 2012
Microblogging site's revenue said to grow twice as fast as expected
Sources privy to Twitter's internal financial numbers have told Bloomberg that the company is on pace to hit $1 billion in sales by 2014. The leaked revenue forecast outstrips the estimates of outside experts by a factor of two, and indicates that the microblogging site's advertising model is enjoying considerable success.
The forecasts are based on expected advertising demand. Marketers using Twitter are said to be pleased with the results of their advertising efforts on the site. Twitter rolled out its ad platform in 2010, and earlier this year the site launched a self-service advertising program targeting small businesses.
Currently, Twitter generates about 90 percent of its revenue from ad sales. Last year, the company pulled in $139.5 million in ad revenue. By 2014, Twitter will be eight years old. By way of comparison, Facebook crossed the $1 billion mark six years after its founding, while Google took five years.
Twitter has been working to improve its ad platform this year. In addition to rolling out the small business-targeted ad sales, the company bought web security firm Dasient earlier this year in an effort to curb malware and spam in its ad network.