As some of you may know, Twitter has filed notice that it will go public in November to raise as much as $1B. As part of that, they had to make their first disclosure of financial results:
"Twitter reported revenue of $254 million in the six months ended June 30. That's more than double the $122 million in revenue the company generated in the first half of 2012. The company also reported a net loss of $69 million in the first half of this year, which compares with a net loss of $48 million in the same period a year earlier."
What the heck? They are losing that much money? Nearly $70M in the first half? How can you lose so much money running a service that puts out text lines from users??? How can it not be profitable by now when it is such a household thing? It seems every TV show now has a twitter feed live as the thing plays. If this level of success doesn't make them money, what will???
I have never understood the purpose and usefulness of Twitter but thought I was too stupid in that others had figured it out. Here it comes out that it not a money maker after all. Who would wake up in the morning decide to start a company that after so many years, only has losses to show and the investors will pay them $1B for part of the company?
When will this business become logical again?
"Twitter reported revenue of $254 million in the six months ended June 30. That's more than double the $122 million in revenue the company generated in the first half of 2012. The company also reported a net loss of $69 million in the first half of this year, which compares with a net loss of $48 million in the same period a year earlier."
What the heck? They are losing that much money? Nearly $70M in the first half? How can you lose so much money running a service that puts out text lines from users??? How can it not be profitable by now when it is such a household thing? It seems every TV show now has a twitter feed live as the thing plays. If this level of success doesn't make them money, what will???
I have never understood the purpose and usefulness of Twitter but thought I was too stupid in that others had figured it out. Here it comes out that it not a money maker after all. Who would wake up in the morning decide to start a company that after so many years, only has losses to show and the investors will pay them $1B for part of the company?
When will this business become logical again?
