Twitter adds video support. What!? No it doesn't!

Britain's Telegraph newspaper broke the story that Twitter's founders were planning to allow users to upload video snippets. These snippets would complement the already existing 140 text characters currently available to twitter users.

Reportedly, video snippets could be sent from mobile phones or any computer device with a webcam attached. This got people talking as to what the reaction of existing video tweet services Tweetube and Twideo might be, given that while heavily marketing their products online they continue to struggle in gaining a foothold in the Twitter market.

Hot on the heels of this news, mashable.com got in contact with Twitter co-founder Biz Stone to get the lay of the land. Biz was quick to respond to mashable via email stating, "Haven't read the piece [in the Telegraph] but no video hosting. 140 characters of text including spaces. You know the drill!"

So, as quickly as the news made headlines it was debunked; and a good thing too, according to mashable reporter Pete Cashmore who suggests that Twitter retaining its existing structure is in the best interests of the business, because undermining applications that offer such functionality could jeapordise the relationship of trust between application developers and Twitter, and limit any future external development of the service.

Where the future lies for the microblogging service is still unclear. Although boasting a user base of around 55 million, the business is yet to become profitible, although reports suggest the site is valued at around $US960 million.

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