Todd Dagres on Twitter's (Eventual) Business Model
It's true, but his Twitter identity is tough to find. (It's here.)
A pithy sample post: "Lots of coats and ties in the room. Ties = bear market."
I asked Dagres why he'd started using Twitter (though others at his firm blog, he has never been a big blogger), and when we'd hear about Twitter's business model.
"I tried it because I wanted to see what all the fuss was about," Dagres said. "This thing is growing about as fast as I’ve ever seen anything grow before. Now, I’m addicted to the stupid thing. I follow Shaq and a few other people who’ve got interesting insights." That would be Spark colleagues Bijan Sabet and Santo Politi, and Jonathan Seelig from GlobeSpan Capital. (While at Battery Ventures, Dagres was an investor in Akamai Technologies, which Seelig helped start.)
Dagres says that Spark and Union Square Ventures are the two biggest shareholders in Twitter.
"We think it’s kind of funny to listen to people [in the press] talk about the lack of a business model," he said. "We know how we’re going to do it, and we’re very confident about how we’re going to do it, and it’s not necessarily in our interest to tell people how we’re going to do it. There is a biz model that has yet to be implemented. Of course, I can't guarantee it’s going to work."
Dagres continued, "All of a sudden there will be some changes that won’t undermine the experience or the virality -- but it will be pretty obvious how we’re going to moentize it."
Twitter hasn't generated any revenue thus far. Dagres said that changing that situation was definitely a project for 2009. But "we’re in no rush right now," he said.
Isn't it nice to fantasize, amidst the current economic gloom, that you work for a company that is under no pressure to start bringing in revenue any time soon?
"Calgon, take me away....."