Twitter introduces self-serve ads in Ireland and UKFriday 15 November 2013 10.55
Twitter is to introduce self-serve ads for small and medium-sized businesses in three countries outside the US, marking one of its first moves to expand revenue as a publicly listed company.
Businesses in Ireland, the UK and Canada will be able to buy "promoted" ads that can be shown to targeted Twitter users beginning this week, the company said.
Twitter held a successful initial public offering last week that raised $1.8 billion. Its stock price has since soared, implying a market capitalisation of more than $24 billion.
Twitter, which made $317m in revenue last year, generates most of its sales through selling ad packages directly to large companies and international brands such as Verizon or Samsung.
But analysts believe it has the potential to greatly boost sales by letting smaller businesses buy automated ads without the help of Twitter sales people.
Google, for instance, became an online advertising powerhouse by automating its ad-buying capabilities for small and medium-sized business.
Twitter gave US businesses early access to the self-serve programme earlier this year. The company has said it intends to eventually roll out the programme around the world.
Analysts expect Twitter to make more than $1.1 billion in 2014 revenue, according to Thomson Reuters data.