Twitter aims to reach one billion members

Social networking giant Twitter has said it aims to have one billion members, according to co-founder Evan Williams.

Williams, who recently resigned as chief executive, told a San Francisco event recently the site hopes to reach one billion users but it doesn’t have a timeframe for achieving that goal.

Currently the site has fewer users than main rivals, Facebook and MySpace. Facebook already has 500 million users, while Twitter has 98 million.

“Twitter will get to a billion members,” Williams told the Commonwealth Club, according to Information Week.

The company is hoping to increase its revenue by pushing its promoted ads and through the reported introduction of new account schemes and setups for businesses.