Hubbard's role will involve finding merchants and payment providers to work with, rather than compete with, according to the financial publication. He said he plans to help offer retailers tools for selling products and services within tweets.
From the company's very inception, it was difficult to see how it would make money over the long term. However, over time, Twitter began rolling out sponsored tweets and various advertisements. The social network already serves ads to all U.S. users after it flung open the door to businesses and advertisers earlier this year.