Twitter Australia has applied from an exemption from Australian corporate rules that would require it to disclose its earnings.
The Age reports that Twitter’s going down a very familiar path for US tech giant firms by seeking the exemption, which applies to firms that are “not part of a large group”, which is defined as having fewer than 50 employees and revenues of more than $25 million per year.
It’s not clear what Twitter makes in Australia, because, duh, they’re not revealing their earnings and seeking to avoid having to do so, but the Australian branch’s parent company is Twitter International, based out of Ireland. Twitter as a worldwide company doesn’t make a profit, but expects revenue for 2014 to reach $US1.33 billion.
Estimates cited by The Age suggest that social networking sites attract around $46.5 million in advertising in Australia, but quite how much of that goes to Twitter Australia is unknown. It’s not even clear how much Facebook Australia makes, as it applied for the same exemption Twitter’s seeking back in 2009 and has never disclosed its local earnings figures.
[The Age]