Twitter Is Investing "Heavily" in TV

Twitter is partnering with the NBA and ESPN for video content

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    Twitter CEO Dick Costolo says his company is investing in television.

    First the Internet. Now television.

    Twitter, the highly-successful microblogging website, is investing heavily in television, according to reports.

    Not only that, Twitter is the "social soundtrack for TV," company CEO Dick Costolo recently told the crowd at a tech event.

    Twitter is attempting to reach $1 billion in ad sales by 2014, the San Jose Mercury News reported, and one way to do that is to add video content.

    The website inked a deal with the NBA recently and will also stream game highlights via a partnership with Disney company ESPN.

    Twitter is not yet publicly traded but could be worth as much as $10 billion, according to one of its own investors. Costolo said that he's not yet focusing on an IPO and is instead trying to run a company.

    In addition to the television partnering, Twitter is also attempting to bolster its security following the embarassing Associated Press hacking scandal. Twitter began two-step verification recently.