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Twitter Earned $47.5 Million in 2012 By Selling Data

Oct 7 2013, 8:01am CDT | by , in News | Misc

Twitter Earned $47.5 Million in 2012 By Selling Data
 
 

Twitter is earning quite a hefty sum via its data business. It has generated revenue amounting to $47.5 million through the information people purchase from it on a daily basis.

Twitter’s IPO was a source of some serious disclosures. It was found that the social network sells off a huge mound of data to certain companies. In return it earns approximately $47.5 million which is quite a lot of money. Its advertising growth figures are minimal when compared to this sector in which Twitter excels. And as for the ecosystem or web-within-a-web that Twitter has managed to create, it is a marvelous thing indeed. Emotions, thoughts and ideas get communicated to everyone who is important and matters on the face of the planet. From Tinsel Town to chief retailers, Twitter provides the info for a reasonable price of course. Venture capitalism lies behind this lucrative trend.


The IPO doesn’t however give an accurate picture of what Twitter actually gets accomplished on a daily basis. It is a much more humongous enterprise than the bare figures reveal. Even UN agencies use data from Twitter for their own internal purposes. DirecTV too avails its services. Many HR departments skim the info in order to hire employees. Wall Street is one place where all of this may merge. Dataminr Incorporated has really done some number crunching in order to serve commercial interests. 

With $30 million in incoming profits, this appears to be a pretty good job. And it is hardly surprising to learn that Dataminr also employs the social signs given off by very urgent Tweets. This is to track the latest news. The social data gathering companies collect and analyze information on the Net round the clock. They are constantly in search of novel trends. Among the ranks of these firms are: Yahoo, Facebook, Tumblr, Instagram and Yelp. Twitter however, remains the top cat of the group.

Source: WSJ

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