Twitter Actually Making Money Off Ads

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    NEWSLETTERS

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    SAN FRANCISCO - APRIL 14: Attendees mingle during a break at the first annual Chirp, Twitter Developer's Conference April 14, 2010 in San Francisco, California. Chirp, the Twitter Devloper's Conference is a two day event for developers who work with the popular social networking service. (Photo by Justin Sullivan/Getty Images)

    Twitter has come along way since saying it could make money without advertising.

    Now the San Francisco-based social networking site valued at $3.7 billion is expected to triple to $150 million this year, according to a Bloomberg report.

    That number could double by next year as advertisers look to connect with Twitter's more than 175 million users.

    Twitter told investors in 2009 that it could make money by developing add-on tools and avoid annoying users with ads.

    But that plan was modified in April last year when Twitter began introducing ads on its site.