The first in a series of articles leading up to Fortune Brainstorm Tech, a conference from July 19-21 in Aspen, Colorado that will round up many of the best and brightest thinkers in technology. Our coverage will examine the progress of companies that presented last year and what to expect this year.
FORTUNE -- These days, it's hard to ignore Twitter even if you're not really sure what to use it for. The five-year-old social network made waves over the last six months with news of Apple iOS integration, not-so-secret boardroom shenanigans (remember my colleague Jessi Hempel's Trouble @ Twitter?), and the return of the prodigal co-founder, Jack Dorsey, as chairman and head of product. News like the death of Osama bin Laden's, the riots in Egypt, and even Shaq's retirement announcement traveled lightning-fast via Twitter, proving that Twitter is all grown up.
"What we're seeing is that people are using Twitter to instantly connect with things that are most meaningful for them," Adam Bain, Twitter's President of Global Revenue, recently said.
Still, one big question hounding Twitter remains largely up for debate: now that it's a grown up business -- let's say it's like a newly graduated college kid, armed with knowledge and a degree -- what's it going to do to pay the bills? Can Twitter find itself a job? In that respect, Bain has said Twitter is rife with potential, with 20%-40% of all users following some sort of brand. (In fact, for all-new users, one of their first 10 "Follows," or accounts they follow, is a brand.)
"It's usually people they know, people they wish they knew, and then brands they're familiar with," he admitted. And because of that, user engagement is supposedly through the roof: When Volkswagen decided to unveil the new Beetle exclusively on Twitter for instance, the auto maker saw a 52% engagement rate, meaning that more than half of users who saw VW's Tweet clicked on it. More
A curated selection of the day's most newsworthy tech stories from all over the Web.
Next week, Facebook, which is on track to reach sales of $2 billion this year, will release a new facial recognition feature called Tag Suggestions that automatically suggests who users should tag in photos. Whenever users choose to tag people in their photos, Tag Suggestions will step in and offer up suggestions about who the friends in MOREJP Mangalindan, Writer - Dec 16, 2010 8:17 AM ET
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