Twitter says no to ads

Twitter chief executive Biz Stone has announced that the microblogging site will not be running ads.

Instead, the company wants to generate revenue by developing applications and add-on tools for business users.

Speaking at a summit in New York, Stone said that there are plans to launch an analytics system by the end of the year, allowing users to collect data such as how often a user tweets and to whom.

A report from Nielsen published last month found that over 60% of Twitter users abandon the site after the first month (see Twitter users quit after first month).

There have been rumours that Twitter is in talks with Google about a potential deal, following its rejection of a $500 million takeover bid from Facebook.