SAN FRANCISCO (CelebrityAccess MediaWire) — Social media web service Twitter has announced the hiring of former Ticketmaster CEO Nathan Hubbard for the newly-created roll of their head of Commerce.
Hubbard, who started at Twitter this week, will be tasked with generating new revenue for Twitter and solidifying the company's financial standings ahead of their IPO, which may happen later this year or in early 2014. Twitter is anticipating generating about $500 million in revenue in 2013 and hopes to double that to a $1 billion in 2014.
Among the sources of this new revenue is a system to allow retailers to sell items directly through 140-character tweets with Twitter taking a percentage of each transaction, Bloomberg reported.
“We’re going to go to people who have stuff to sell and help them use Twitter to sell it more effectively,” Hubbard told Bloomberg. “One of the hallmarks of Twitter’s entire approach has been partnering. We’re going to take the same approach with owners of physical and digital goods.”
Hubbard, joined Live Nation in 2009 when the promoter acquired Coran Capshaw's MusicToday, where Hubbard was serving as CEO. Since then, he's overseen Live Nation's E-commerce efforts, overseeing the development of their online ticketing operations, as well as other digital initiatives. He was appointed to the lead role at Live Nation's Ticketmaster division in 2010, following their merger with Live Nation.
Hubbard left Live Nation earlier this month after what the Wall Street Journal described as a power struggle between Hubbard and Live Nation CEO Michael Rapino. – Staff Writers
