With the site expected to generate revenue this year

Sep 23, 2009 12:35 GMT  ·  By

Twitter may have slowed down recently but it's still very much in the spotlight. The media loves it, celebrities love it and users love it. And from the looks of things its investors love it as well, as the microblogging site doesn't seem to be in any hurry to generate any revenue. There are some vague plans to launch some sort of business services this fall but that's about it and cofounder Biz Stone says, to no one's surprise, that there are no plans to introduce ads anytime soon.

Speaking at the 140: Twitter Conference in Los Angeles, Stone believes that Twitter is doing "pretty good right now" financially, according to Reuters, and that, while revenue was a concern, ads are out of the picture for the moment, with Twitter focusing on improving the service and the team working on features like an improved search, long time coming and very necessary, and the aforementioned business accounts. "Any kind of approach toward advertising is going to be awhile ... We're not thinking about that just yet," Stone concluded.

This of course isn't exactly news; Twitter has been saying that ads aren't an option at least for the immediate future and that the company would much rather find alternative revenue avenues. Of course, Twitter can take its time coming up with a business model as it's sitting on a very nice pile of investor money, one that's not about to run out anytime soon. To date the two-year-old startup has raised $55 million in three rounds of funding.

Thanks to a huge growth in popularity and users in spring, Twitter has been quickly propelled to Silicon Valley super-stardom, with estimates putting the company's value at above $1 billion, but, just like most other similar services, it has yet to create any serious financial rewards for its investors. Still, Stone says that commercial accounts are on track for this year and the company should start generating revenue before 2010. "We wanted to show people that we're here to stay and here we are making money," he said.