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Twitter cofounder Biz Stone told Bloomberg yesterday that the microblogging startup hopes to grow faster and better retain users by helping them find other users they might like to follow.
Bloomberg: To attract more people to Twitter, the company’s designers are also working on a project to help new users discover others who might have similar interests or who live nearby, Stone said.
Smart. Some 60% of Twitter users quit the site after a month and the startup needs to add sticky features like these to address that retention problem if it hopes to keep growing like a weed.
Stone said that Twitter will generate revenue in Q4 by offering paid services for businesses.
Bloomberg: The products might include an “analytics dashboard” to help companies monitor Tweets about their business, or verified corporate Twitter accounts, Stone told reporters yesterday at an event in Mexico City.
The paid services would probably be offered on a limited basis at first, Stone said. He didn’t say how much they will cost or how much revenue they could generate.
Image: Dmytro Sergiyenko