Twitter to release new tools, business model

Twitter has finally declared its hand on the “where’s the business model?” question by saying the future is paved with add-on tools.

In an interview posted by Reuters, Twitter co-founder Biz Stone said that Twitter was “developing various add-on tools and services for the businesses and professional users of Twitter, which could create a revenue stream for the company” which would be released by the end of the year.

Advertising though isn’t on the radar. “There are a few reasons why we’re not pursuing advertising — one is it’s just not quite as interesting to us,” said Stone, who also noted that “There are no people at Twitter who know anything about advertising or work in advertising. So we don’t have anyone there to make or take those calls.”

The function of the new tools, or if they will compete with existing third party tools was not made clear.