Twitter has some mighty ambitious plans to bring promoted tweets and other advertising products to over 50 countries by the end of 2012.

Western Europe and Latin America will be among the first to see their tweeters transformed into revenue for the company.

Twitter co-founder Jack Dorsey spoke at a press conference held during the Cannes International Film Festival Tuesday morning. He addressed Twitter’s future and essentially implied they are still open to a variety of paths.

Twitter co-founder Jack Dorsey comments on Twitter’s future:

“I’m extremely humbled by how quick and broadly Twitter has taken off an how we’ve done building something independent and timeless – this is a company that will last,”

“The company has always put itself in a position to choose when it is ready. We do things when we are ready. We have a good understanding about pacing and have the discipline to make the choices ourselves.”

So, while Twitter may be open to going public or being acquired by a larger organization (possibly Google?), it is making the global expansion of advertising its immediate priority.

Among the most likely countries to be receiving promoted tweets, trends, and accounts in the very near future are Brazil, Spain, and Germany.

Twitter hasn’t been taking things slow, they just moved to a new headquarters and hired some new talent. They have also experienced a huge influx of users going mobile, and unlike Facebook, their products are already prime for mobile usage.

As Twitter sets out on their mission to expand advertising, we can probably also expect to see an increase in the social platform’s user-base. We’ll keep you updated on their advertising expansion progress.