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Twitter chief Dick Costolo says 'IPO still long way off'

Washington, Wed, 02 May 2012 ANI

Washington, May 2 (ANI): Twitter CEO Dick Costolo has said that the micro blogging site's Initial Public Offering is 'still a long way off' and that the firm does not see any need or urgency to even think about it at this point of time.

Costolo that the business was working extremely well and that Twitter has plenty of money in the bank.

"We don't need to worry about financing now," he added.

According to CBS News, Costolo expressed a disdain for the thinking that there is an 'IPO window' that may close soon and leave Twitter unable to raise public funds, if it ever needs to.

"That's silly and shortsighted thinking," the report quoted him, as saying.

"Google went public on its own terms. If you have a great business, you can be a public company whenever you want to be a public company. You're not beholden to a window," he added.

Costolo also indicated that he does not want to run a public company the way the markets demand.

"I'm never going to optimize for short-term revenue at the expense of user experience. If people think we're going too cautiously, I don't care. They can stay on the sidelines," he said. (ANI)

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