Dick Costolo, chief executive of Twitter, has moved to calm talk of a $10bn (£6.2bn) takeover by Google, saying the potential acquisition is "just a rumour."
Costolo, who was speaking at the Mobile World Congress in Barcelona, also announced that the social networking website will introduce a new way for the site to make money over the coming year, though he did not reveal further details.
Addressing talk of a potential takeover by the search engine giant, Costolo suggested that Google was not in a position to afford such an acquisition and added: "People write that stuff all the time ... I don't know where these things come from, it's just a rumour."
Costolo, moving to underline Twitter's success, said that the website now processed around 130m tweets a day, up 30m from the end of last year.
He added that the site's mission statement is to "instantly connect people everywhere to what's most meaningful to them."
Addressing Twitter's role in recent events in Tunisia and Egypt, Costolo acknowledged that there were "dramatic increases" in the number of users in the area but stressed that the focus placed on social networking "takes away what these people have accomplished."
Costolo, who took over as chief executive from Evan Williams in October, said the company was attempting to make the website simpler and more compatible with smartphones, although there are no plans to introduce smartphones bearing the Twitter brand.