Twitter rolls out ad plan

By Grace Wong, contributing writer


LONDON (CNNMoney.com) -- Twitter said Tuesday that it will start featuring ads as part of the company's effort to turn its popularity into profit.

Twitter co-founder Biz Stone unveiled the new advertising platform, called Promoted Tweets, on the company's blog.

"This announcement is a long time coming," said Stone in the announcement.

How Twitter plans to make money has been a question that, until now, the company has been reticent about.

Twitter allows users to post 140-character entries called "tweets."

Now when users conduct a search on the site, tweets paid for by Twitter's advertising partners will be displayed at the top of the search results page.

Companies that will feature ads on the site include Best Buy (BBY, Fortune 500), Starbucks (SBX) and Sony Pictures.

Other than carrying a label that signals they are being paid for by an advertiser, the promoted posts will look like a regular tweet.

As recently as last September, Stone had said it would be "awhile" before Twitter displayed ads on its Web site.

The company has taken heat for not revealling its business plan, but Stone was quick to poke fun at himself.

"When your name is Biz and you're a co-founder of Twitter, it also means putting yourself at the mercy of folks like Stephen Colbert, who hit home runs wtih lines like, 'So I assume that Biz in Biz Stone does not stand for Business model.'" To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,390.52 195.10 1.13%
Nasdaq 4,630.74 64.60 1.41%
S&P 500 2,018.05 23.40 1.17%
Treasuries 2.34 0.03 1.30%
Data as of 8:34pm ET
Company Price Change % Change
Bank of America Corp... 17.16 0.13 0.76%
Intel Corp 34.01 1.43 4.39%
Apple Inc 108.00 1.02 0.95%
Facebook Inc 74.99 0.88 1.19%
General Electric Co 25.81 0.14 0.55%
Data as of 4:05pm ET

Sections

AT&T adds two new 'value plans' with more data in response to similar deals from rival carriers. More

When it comes to Internet speeds, the U.S. lags behind much of the developed world. More

Instead of flocking to sunny beach havens or downsizing to a condo in the city during their retirement years, a majority of Baby Boomers say they're just going to stay put in their current home. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.