2010 was a great year for Twitter as it grew its user base to nearly 200 million.

According to one report, 2011 will be an even better year for the micro-blogging social networking site.

Research firm eMarketer said Twitter will earn $150 million in revenues this year, most of which will will come from the U.S. This be triple the revenue the company earned in 2010, $45 million. 2010 was the first year the company sold advertising.

If Twitter can grow its user base and convince marketers of its value as a go-to secondary player to Facebook, it will succeed in gaining revenue, Debra Aho Williamson, eMarketer principal analyst, said in a statement. In 2011 it must work overtime to give its early advertisers a positive experience.

eMarketer is confident in Twitter because of its various monetization efforts. For one, there is a promoted products suite, where various topics, and twitterers, are displayed in prominent positions for the cost of advertising. There is also the inevitable launch of a self-serve platform akin to Facebook's highly successful ad targeting system.

The revenue will be well short of social media giant Facebook, but surpass falling website MySpace, which was recently laid off half of its employees.