Twitter CEO: We Still Don't Know What Twitter Is For

In an interview with The Telegraph newspaper this morning, Twitter CEO Dick Costolo admitted that he's still trying to figure out Twitter's "long-term purpose."

Costolo, who took over for Evan Williams last month, said that he's "currently trying to define" what Twitter is going to become, and noted that users have come up with a lot of past innovations like the hashtag. 

Sources say that despite its fast user growth and the introduction of new revenue sources like sponsored tweets and selling access to data, Twitter still isn't booking a lot of revenue. On stage at Web 2.0, Williams didn't offer any revenue numbers for what he called the "promoted suite," saying only that demand was outstripping supply.