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Twitter: a billion-dollar company that few trust

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Sep 21, 2009 

Author

Edward Barrera  |

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Twitter: a billion-dollar company that few trust

ADOTAS — Yesterday, news broke that the microblogging company got a huge round of funding.

With the injection of $50 million, the company has been valued at $1 billion, according to MediaMemo. This despite the fact that its revenue streams are paltry, and Facebook keeps mimicking its ideas.

And now, just to add to the nattering nabobs of Twitter negativity, comes the results of a new First Amendment national survey conducted by the First Amendment Center. No surprise, television was the first source for major news stories for about half of all responding (49%), followed by the Internet at 15%, radio at 13% and newspapers at 10% – which places traditional news media (TV, radio and newspapers) as the first source for 72% of Americans.

Twitter, e-mails and social-networking sites each were named by 1% of those responding, according to the survey. And the deeper numbers on Twitter are even more interesting, considering that journalists and new media experts went gaga over the service after it became a real-time news source. Just 3% of those who had an opinion on Twitter found it a “very reliable source of news” and 14% considered it “somewhat reliable,” while 21% said “not reliable at all” and 13% said “not too reliable.”

According to the survy, many Americans have yet to “tweet”: 49% of those responding didn’t know enough about Twitter to have formed an opinion. The “reliability rating” rose only marginally among the younger groups in the survey: For those ages 18-35, 3.3% said “very reliable,” while it was 3% for those ages 36-49. For older groups, the rating fell: 1.9% for those ages 50-64, and 1.3% for those ages 65 and older.

Sounds like a valuable company to me.

Tags: media, News and twitter

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