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TheStreet Open House

Twitter vs. Facebook: The Great Debate (Update 1)

This is great news for Twitter, especially as rumors suggest the social networking site is getting ready to go public. I've said previously that Twitter will file its documents later this year, with an IPO to happen in 2014. Everything I'm hearing says that trajectory continues to be in place, though plans could obviously change.

The migration away from Facebook isn't happening yet, but it is something for the Menlo Park, Calif.-based social networking giant to worry about. Should teens start to migrate away from its service in droves, the number of users and, subsequently, advertising dollars, will suffer. Facebook generated $1.458 billion in revenue in its first-quarter, with the majority of that being advertising dollars.

Facebook, to its credit, is trying to increase engagement on its network, with products like Facebook Home. Facebook Home has seen mixed to negative reviews, something that Facebook can't be happy about. It seems that although the design is beautiful, people don't want Facebook taking over their phone, especially if they aren't heavy Facebook users.

The story is pretty clear. Twitter is becoming increasingly important in teens' lives, and not just for a place to tell the world what you had for breakfast. It's a news outlet, and increasingly becoming more relevant to how people can express themselves. Perhaps Facebook can one day again be that place for teens. Just don't count on it any time soon.

-- Written by Chris Ciaccia in Newport, Calif.

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