Twitter is reportedly planning to enter the world of mobile commerce in a bid to better expand and monetize the outreach of this juggernaut social platform.
The U.K. Telegraph points to leaked documents revealing that Twitter is planning to allow its 232 million users to buy products directly from the site.
Should these purported plans come to fruition, the service in question is expected to be called Twitter Commerce.
According to Re/code, the technology blog, the transactional service is a partnership with a US e-commerce site called Fancy, which counts Twitter founder Jack Dorsey as an investor and board member.
Mock-ups of the e-commerce proposal show how Twitter users could make a purchase from seeing a tweet with a picture of a product and a button that says “buy with Fancy.”
Twitter now finds itself in the unenviable position that Facebook worked its way out of in the last two years. Formerly a mobile dunce, Facebook has quickly figured out how to monetize mobile. And now it’s Twitter’s turn.
Ken Sena, an analyst at Evercore, is quoted in the report saying that Twitter must continue to progress in developing its business model.
According to Sena, investors can tolerate Twitter’s losses for a while longer but only “as long as it can demonstrate traction in terms of revenues and users.”
