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Twitter, a relatively young San Francisco-based service that has nonetheless raised at least US$55 million in funding and drawn a rapidly growing pool of regular users, announced the advertising initiative on a company Web site.

The move is an answer to critics who have noted that red-hot Twitter hasn't yet developed a business model to match its popularity. Twitter is used to spontaneously post everything from personal updates and observations to breaking news stories online, using 140 characters or less.

Read the full story in The Wall Street Journal