Twitter hires new staff in a bid to boost revenue streams

Twitter is set to employ a number of staff to concentrate on generating money for the site.

The micro-blogging service has advertised roles on its site, saying it is looking “for new members of our technical staff to work on cutting edge monetization projects”.

Twitter’s attempt to boost revenues come after the site’s founder Biz Stone revealed that he was planning to launch paid-for commercial accounts with additional features for corporate users.

The site’s user base has soared to more than 40 million from just a few million users a year ago but the service has spent more money than it has made so far.

However, the blogging site, which launched in 2006, is still thought to be worth around $1 billion.

Twitter is also expected to focus on licensing, syndication and media partnerships as a means of generating cash this year.