Hey, facebook, twitter this!

There’s nothing “micro” about microblogging network Twitter’s ad revenue.

In fact, the latest projections have Twitter raking in more than $1 billion in advertising revenue by 2014.

Two sources close to the social networking behemoth tell Bloomberg that the service is growing at a record pace. And with that growth comes some hefty bags full of ad-related cash.

Demand for advertising aimed at Twitter’s more than 140 million users is benefiting the company. Researchers at EMarketer Inc. have said that in 2014, Twitter will reach $540 million in ad sales, which make up virtually all of its revenue, up from $139.5 million last year. Even so, it will take Twitter longer to generate $1 billion than bigger competitors Facebook Inc. and Google Inc.

“The marketers who have used Twitter’s advertising opportunities have been pleased,” Nate Elliott, an analyst with Forrester Research Inc., tells Bloomberg. “Twitter’s going to be able to push forward and continue to make more money from it.”

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