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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Special Report: An end to AIDS? 11:52am EDT Germany: sharp rise in E.coli cases, source unknown | 10:18am EDT Company from Virginia bus crash taken off the road 10:21am EDT Special report: If Monterrey falls, Mexico falls | 2:35pm EDT CSU forecasts five major hurricanes in 2011 season 2:23pm EDT Discussed 64 Judge voids controversial Wisconsin union law 52 Speculation grows over Sarah Palin’s 2012 plans 51 Air France jet crashed nose-up after 4 minute ordeal Watched Massive Australian waterspout caught on film Mon, May 30 2011 Scientists revive ancient spider in stunning 3D detail Tue, May 24 2011 GM pulls the plug Fri, May 27 2011 Twitter CEO says 80 percent of advertisers renew Tweet Share this Email Print Twitter's CEO Dick Costolo gestures during a conference at the GSMA Mobile World Congress in Barcelona, February 14, 2011. Credit: Reuters/Albert Gea Related News Google wanted to team with Facebook, now fierce rival 5:58am EDT Twitter acquires online ad team to help with monetization Tue, May 31 2011 Martha Stewart Living may sell itself, shares soar Wed, May 25 2011 Morgan Stanley allows broker use of social media Wed, May 25 2011 Social phenom Zynga on cusp of mega IPO: report Wed, May 25 2011 Analysis & Opinion Bill Keller’s war on the Internet keeps the Times down Deals wrap: Glencore debuts while markets await LinkedIn Related Topics Technology » Media » By Sarah McBride and Alexei Oreskovic PALOS VERDES, Calif./SAN FRANCISCO | Wed Jun 1, 2011 3:45pm EDT PALOS VERDES, Calif./SAN FRANCISCO (Reuters) - More than 80 percent of the companies that advertise on Twitter renew their marketing efforts on the microblogging service, the company's chief executive said on Wednesday. But while the Internet company is focused on building an advertising-based business, CEO Dick Costolo said the company's future was not dependent on floating shares in an initial public stock offering. Twitter's long-term success is not "correlated" with an IPO, Costolo said at the D9 conference, organized by the News Corp-owned tech news blog AllThingsDigital. Investors are closely watching fast-growing social networking companies like Twitter and Facebook, in the hopes that they could become the next blockbuster IPOs. Last month, professional social networking site LinkedIn Corp made its debut as a publicly-listed company, with its shares doubling from their offering price on the first day of trading. Twitter, which has more than 200 million registered user accounts, allows people to send short, 140-character messages and to follow the so-called Tweets of friends and celebrities. On Wednesday, Costolo unveiled a new feature to make it easier for users to append photos directly in their Tweets, a feature which previously required using third-party software applications. Twitter also announced improved search functionality for the service. Costolo said the company counts roughly 600 advertisers, up from 150 advertisers at the end of 2010. While Twitter has stepped up efforts to build an advertising business, Costolo said Twitter was not under pressure to boost revenue. "We don't need to optimize for short-term revenue," he said. Costolo declined to answer a question about whether Twitter was profitable. Social networking services like Twitter and Facebook are increasingly challenging established online companies like Google Inc and Yahoo Inc as popular online destinations with web surfers and advertisers. Twitter, which began courting advertisers one year ago, is still in the early stages of building a business. The company is expected to bring in about $150 million in ad revenue this year, compared with Facebook's roughly $4 billion in ad revenue, according to research firm eMarketer. That hasn't stopped investors from making big bets on the company's future prospects. In December, Twitter was valued at $3.7 billion in a $200 million funding round led by venture capital firm Kleiner Perkins Caufield & Byers. An auction of Twitter shares on the secondary market in March suggested investors were valuing the company at more than $7 billion. Costolo is among the more than a dozen tech industry executives slated to speak at the conference, taking place this week at an upscale resort in Southern California. Other scheduled speakers include the chief executives of Walt Disney Co, Hewlett-Packard, Twitter, Zynga, Groupon and Alibaba. (Reporting by Sarah McBride and Alexei Oreskovic. Editing by Robert MacMillan, Gary Hill) Technology Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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