Wednesday, January 20, 2010

Twitter Comment

I came across an interesting comment from Dick Costolo, the Chief Operating Officer of Twitter, as reported on Bloomberg News:

"We have to catch up to our valuation," Costolo said. “We’ve raised all this money. We’ve created this global brand. It’s one of the fastest -- if not the fastest -- growing brands in the history of the world. Now we have to go build the business that lives up to that valuation."

This is a shocking admission that the company is overvalued in the private market, and not something that you hear everyday from an executive at a Technology company.


Michael T said...

I don't get twitter. Maybe in times of crisis or special events. But all the time tweets is pointless.

Mike said...

I think people use Twitter because it is a trendy thing to do. The vast majority of people probably get no real value from it whatsoever.