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According to a recent report, Twitter could generate as much as $250 million in ad revenue by 2012. Now valued at $3.7B, Twitter has failed to monetize its success until recently. With $45 million in ad revenue in 2010, the privately held company will introduce a self-serve ad system to bolster future profit. In other news, Barnes & Noble’s Nook Color has brought the company over 650,000 subscriptions and single copy sales of their newsstand publications. 150% more subscriptions were sold since Christmas than in the past 12 months. The Nook series is selling more e-books than Barnes & Noble sells physical books, thanks to very attractive prices. And finally, Pope Benedict XVI blessed the use of digital communications and social networks. Warning that it should not replace human interaction, the Pope suggests that young people should “make good use of their presence in the digital world.” The Vatican already has its own social network, Facebook app and YouTube channel.