Twitter has tapped the former CEO of Ticketmaster, a California-based ticket sales and distribution firm, as its first Head of Commerce, according to a report by Mashable.
Twitter’s spokesman Jim Prosser confirmed that 38-year-old Nathan Hubbard started working at the tech firm this week. Hubbard graduated from Princeton University and earned his Masters in Business Administration from Stanford University. The former recording artist also released five albums in the past. Hubbard will work under Adam Bain, Twitter’s President for Global Revenue.
The appointment is in line with Twitter’s goal to achieve US$1 billion in sales by next year. It is also on the lookout for new revenue streams in preparation for a likely public listing. The tech firm is expected to offer software tools to retail firms that will enable them to sell services and goods inside a tweet.
“We’re going to go to people who have stuff to sell and help them use Twitter to sell it more effectively,” noted Hubbard.
Instead of competing with other companies, Twitter will partner with vendors and firms that provide different payment services, and they could take a cut based on the transactions.
“One of the hallmarks of Twitter’s entire approach has been partnering,” he said, adding the tech firm will follow the same approach for vendors that sell physical and digital items.
Twitter also recently announced that it is collaborating with research company Datalogix to monitor the impact of promoted tweets on sales purchases at brick-and-mortar stores.