Twitter COO Dick Costolo: No IPO Anytime Soon

TwitterDickCostolo.jpgIf you’re waiting for an initial public offering from Twitter, you might want to stock up on Snickers bars: According to chief operating officer Dick Costolo, you’re going to be here a while.

Costolo told Bloomberg the microblogging service’s focus right now is short-term as it attempts to boost revenue with a new advertising program.

He told Bloomberg:

My view of our financial future is like that old New Yorker cover where the New Yorker looks at the view of the United States and the IPO is way out west somewhere. Bronx and Queens are our 2010 financial plan, and that’s what we’re focused on right now.

We have to catch up to our valuation. We’ve raised all of this money. We’ve created this global brand. It’s one of the fastest—if not the fastest—growing brands in the history of the world. Now we have to go build the business that lives up to that valuation.

We’ll continue to look for areas where we think we need to be much more aggressive. We’re not looking at 2010 as an “OK, let’s slow down” year.