Anthony Noto Sees 'Magnitude of Opportunity' in Twitter's $30 Billion Valuation
NEW YORK (TheStreet) -- Anthony Noto was preparing for life on the buy side after a decade as a research analyst at Goldman Sachs
Noto on Wednesday cited the "magnitude of opportunity" ahead of Twitter, even after a 2013 initial public offering that valued the company around $30 billion as the reason he decided to take a job as the company's chief financial officer just months after joining tech-focused hedge fund Coatue Management . Noto's comments, made at a conference hosted by Citigroup, underscored his belief that Twitter is just beginning to grow and monetize its user base, while also launching new media and advertising products in the U.S. and internationally.
Read More: Anthony Noto Becomes Twitter's CFO
"It is very rare to see a company with circa a $30 billion dollar market capitalization with so much growth and opportunity ahead of it relative to what it has accomplished," Noto said on Wednesday when asked to explain why he joined Twitter .
Noto said Wednesday that Twitter's IPO process deepened a four-year relationship he'd built with the company and Costolo after returning to Goldman from a stint as the CFO of the National Football League . Working closely with Twitter gave Noto the impression that the company was open to change and still early on in capitalizing on opportunities to improve internally, and in growing externally to be the most watched information network in the world.
"[T]here is an incredible openness to take Twitter to the next chapter," Noto said. About being approached for the finance chief role, Noto said Twitter "was looking for that type of structure and a planning process and it was very welcoming to have people that were so open given something that is already so big."
While Noto's impact may be immediately felt in the company's corporate structure, its planning process and its allocation of resources, it also appears the incoming CFO will play a large role in shaping Twitter's growth strategy.
Noto said he sees four key pillars for change at Twitter centering on increasing the richness of content on the micro-blogging site, especially internationally, while also improving relevance, search and user onboarding experiences. On Wednesday, Noto further hinted that Twitter will continue to tweak its timelines, perhaps, in a manner that drifts slightly from the chronological stream that users are accustomed to.