Twitter and Facebook Are in `Arms Race': Scissons

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Sept. 12 (Bloomberg) -- Greylock Partners' Josh Elman, Grid Ventures Chairman Michael Scissons and Freshwire CEO Shawn Amos discuss how companies use Twitter to engage customers. They speak with Emily Chang on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

You, comparing facebook and twitter.

Twitter bot vine, they put out this video product.

Instagram now owned by facebook now.

What do you make of some of the copycatting we have seen between these two services?

It stems from my previous statements which has to do with content marketing.

What we are looking to do with engaging consumers is create that stream they will go to, find out what is going on.

To be your newspaper, tv station.

They're looking to be that play should go every morning when you wake up.

We are in an arms race, feature for feature, step-by-step.

Facebook has the advantage of more meaningful connection.

Twitter has the advantage of being more real time.

They are trying to use their advantage.

I want to compare the value of the different services out there for advertisers.

Can you compare facebook to twitter to google to yahoo in terms of advertising?

What do you tell your clients?

Where does twitter stand in the line up?

It is really about the audience they want to reach.

The clients are looking to engage with consumers in real time in a credible way.

Who has the audience that a brand wants?

There is no one-size-fits-all solution.

Sometimes you want to may advertise on nbc or comedy central.

It depends on the kind of consumer you want to reach.

It is an arms race, but it is also about norms and standards.

Certain things work and standards work across platforms.

It is good to have a common language across all of these platforms.

I want to talk about the management at this company.

There have been a lot of management changes at twitter over the years.

He has worked hard to bring in a strong management team and get this company ready for an ipo.

Josh, you worked inside the company for a long time.

How would you describe management?

How would you describe company culture and how it has evolved?

When twitter first started, it was a science project.

What this -- this little idea sounds pretty fun, can we make the company out of it?

This is a simple thing, 140 characters.

We are sharing simple bits of information.

You start realize how it is impacting the world.

There were people in iran tweeting.

The company continues to be surprised.

It has kept the colts are humble and open and listening to users -- the culture humble and open and listening to users.

You have seen the management go from, what do we need to do to make sure the lights are on tomorrow to how do we run a company that we think and be around for 20 years?

What dick has done to strengthen the management team has been amazing.

How would you describe his management style and how it compared to evan williams and what came before?

In the early days of the company, there were deep struggles for the identity of what the company should become?

Are we an open platform?

Should they pay for premium accounts?

It takes a lot of contemplative thought, really introspective reasoning.

The early founders brought that to the company.

As things started to work, you want to move faster to seize the opportunity.

Dick was really able to bring a lot of that drive to move forward and faster, take bigger risks once a got those core things to find.

He has been able to leave and -- leave the company that way.

-- lead the company.

The executive team has really been out there selling this story in person to advertisers to brands.

You have met a lot of these executives.

How confident you -- how confident are you in the executive team?

I am super confident.

They are bright, driven, in gauging, they are's extremely well-liked in the community.

Considering the size and how big of a company they are, they have done a phenomenal job of really being accessible.

They have done a good job connecting with advertisers and compared to a lot of the other large media companies, if you were to put an approachability index or a trust index out, the team would rank extremely high in trust with marketers today.

I am getting some news that -- a $14 billion valuation for twitter.

That is significantly higher than the valuation that has been thrown around.

What does that number mean to you?

As we have seen a lot of the recent ipos, the number is a great signal for what the potential of the company could be.

The continued execution of the company , to sustain that valuation or grow into something much higher.

One of the things with twitter, they have been strict about employee selling secondary shares.

Describe what that will mean for this ipo.

Does it make it a simpler process?

It will be a very similar process to what we have seen with other companies.

You have a strong group of original investors who backed the company.

This text has been automatically generated. It may not be 100% accurate.

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