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Twitter CEO Costolo Focused on ‘Building Global Town Square’

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March 25 (Bloomberg) -- Twitter Inc. Chief Executive Officer Dick Costolo is focused on boosting membership as he works to expand the Web-based social messaging service.

“Our user growth drives everything,” Costolo said when asked during an interview with Bloomberg Television whether it’s more important to reach $1 billion in revenue or 1 billion users. “We’ll figure out how to build a business if we’re delivering great user experiences that more people come to.”

Twitter, the microblogging service that features 140-character status updates, has been expanding outside the U.S. and fostering ties with television networks to boost sales from advertising. The site is projected to increase revenue by 89 percent to $545.2 million this year, according to researcher EMarketer Inc. Twitter has about 200 million active users.

As for the potential for an initial public offering, Costolo said he’s focused on “building a global town square.”

“All the benefits of the business and the way we think about growing the business will fall from that,” he said.

Twitter expects to generate at least $1 billion in sales in 2014, two people familiar with the matter said in June. Emarketer estimates that Twitter’s advertising revenue can reach $807.5 million next year.

To contact the reporter on this story: Karl Baker in New York at kbaker30@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net