Micro-blogging site Twitter is proposing enhanced versions of the site for a fee to various businesses and corporations, Reuters reported Thursday.

Biz Stone, the co-founder of Twitter, told Reuters that "if these services are valuable to companies, we think they may want to pay for them." Twitter's strategy to generate revenue from the site has been much anticipated and comes in light of recent findings that many companies are opting for Twitter as a communication tool over other networking sites.

According to Nielson Online, Twitter boasted over seven million hits in February, compared to only 475,000 for the same time last year.

The company decided to accelerate it revenue-seeking schedule, formulating a profit-making plan prior to 2010, the original date set for seeking remuneration for the site, Reuters reported.

Recently, Twitter has partnered with Federated Media and unveiled the project "Exec Tweets" which collects tweets from corporate executives.

Stone said "we have lots of time for experimentation with regard to revenue generation" and predicted that the company would "probably be trying a few different things this year".