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Twitter co-founder announces that site will remain ad-free

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Twitter founders are looking for ways to make money from the wildly popular micro-blogging site, but as of right now they are not pursuing ad revenue options. Co-Founder Biz Stone said on Monday at the Reuters Global Technology Summit that the company will instead look to marketing specialized tools to businesses.

Twitter is steering clear of advertising due to several reasons. For one, they feel ads will annoy their users. Additionally, the company has no interest in hiring and maintaining the staff to run an advertising department. Twitter wants to make money in new and interesting ways instead of relying on advertisements, like most Internet start ups. Interestingly enough, Twitter turned down an offer of $500 million from Facebook last year as well as a potential deal from Google.

Although right now Twitter remains ad free, this does not mean that the company will not change its mind and pursue this source of revenue. Official details about the business tools to be available on Twitter have yet to be released, but Stone said to expect to see some of them available by year’s end.

Read: [Reuters]

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