Bloomberg expects eight figures for new Twitter network

Bloomberg’s new Twitter network will launch on Dec. 18 with six founding partners: Goldman Sachs, Infiniti, TD Ameritrade, CA Technologies, AT&T and CME Group — and more are in the works. The average price point of the partnerships is $1.5 to 3 million, leading to Bloomberg securing eight figures in revenue in its first year. Why it matters: The investment is a part of a major digital push by the company to stay competitive in an era where Google and Facebook have tightened their grip on the digital advertising market. The details: Bloomberg is hiring around 50 people to staff the new project, which will exist as the first 24-hour social news network on Twitter.

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