Twitter Inc (NYSE:TWTR) will open an office Hong Kong despite the company being banned from operating in China. The Hong Kong office will help the company reach advertisers in Asia Pacific region as the company pushes to monetize its growing users there. Shailesh Rao, Twitter’s VP of APAC, Americas and Emerging Markets, was on CNBC to shed light on the development.
“Our principal focus in opening an office in Hong Kong is going to be working with advertisers to help them reach global markets. Chinese companies in the tech, telecom sector, the travel sector […]. Helping those companies go global, reaching audiences through Twitter around the world is going to be our primary focus,” said Rao.
Rao said that at Twitter Inc (NYSE:TWTR), they see tremendous demand for their services from the companies in Asia Pacific region. That is why they expect their location in Hong Kong to excite companies in the Greater China and the rest of the region. He stated that they long-standing goal has always been reaching everybody around the world through their microblogging platform. However, he conceded that they were still facing restrictions in China but hoped that the lifting of such ban will be important for their growth.
“We announced we’ll open an office in Jakarta and we are working on plans to do that […]. I think it is a sign of opportunity,” he stated.
Twitter Inc (NYSE:TWTR) will continue to do what they have done before, which include educating the marketing, opening office in Jakarta, Taiwan and working with advertisers around the Asia Pacific region.
“We are very excited about the business and the growth of revenue. We are the largest billion dollar run rate digital business in the world. So, our growth has been something that we are very pleased with, over 100% year-on-year. Internationally the growth has been even stronger, 160% year-on-year. And 38% of our total revenue today is contributed by International markets. That is up from 25% just a few months ago when we went public,” said Rao.
The executive further recognized that in Asia Pacific, Twitter Inc (NYSE:TWTR) was operating from a position of strength. The region has the largest user-base for the company than any other region in the world. As if that was not enough, Asia Pacific is also the company’s fastest growing user base region in the world. It is one of the most visited websites by people from across the world.
Bain Capital’s Brookside Capital held about 3.6 million shares in Twitter Inc (NYSE:TWTR) at the end of the first half of the year.