Twitter 'to join internet billionaires' club by 2014'
Twitter expects to generate at least $1bn (€1.25bn) in sales in 2014, up from $140m last year, according to sources close to the US tech company.
It's almost twice analyst estimates. The news comes as the ability of social networking websites to deliver real revenues is under scrutiny as never before in the wake of the Facebook stockmarket flop two weeks ago.
The latest Twitter forecast is based on an expected surge in advertising demand, said the sources.
Twitter allows its users to publish and read each other's short instant messages, the firm's revenues come from advertising aimed at its 140 million users.
"The marketers who have used Twitter's advertising opportunities have been pleased," said Nate Elliott, an analyst with Forrester Research.
If Twitter does take in $1bn in 2014 it will come eight years after the service was launched. Google crossed the $1bn threshold after five years in business, while Facebook hit the $1bn mark six years after it launched.
Twitter opened an office in Dublin this year as part of a drive to increase international sales and is actively recruiting staff, but remains heavily dependent on the US market -- which accounts for 90pc of sales. (Bloomberg)