Oct 12 (Reuters) – Twitter Inc (TWTR.N) on Tuesday rolled out new ad features and revamped the algorithm that decides which ads users see, as part of an effort to lay the groundwork to launch future ecommerce features, the social networking company told Reuters.
The new features come as Twitter is pushing to grow its performance advertising business, a strategy that aims to quickly generate sales, and constituted just 15% of Twitter’s business last year. The effort could help Twitter reach its goal of doubling annual revenue by 2023.
The San Francisco-based company is positioning itself to eventually allow brands to sell products through the service by first improving on its ability to show users relevant ads and increasing the likelihood they will click the ad.
“Performance ads are a very large…