Memo to TwitPic and ImageShack, you're screwed! After a couple of days of fevered rumors, the Wall Street Journal's All Things Digital has confirmed that Twitter will be launching its own photosharing service as soon as tomorrow (Wednesday).

There's no word on what will be the name of Twitter's new service; only that it will likely work in a similar fashion to the other third party clients.

ImageShack, the company that developed and owns one such popular photo sharing client called YFrog, has raked in millions of dollars in advertising reveues and recently secured ten million dollars in another round of venture capital funding. I'm guessing the phones are pretty active in their office today.

Twitter warned developers earlier this year to back off on making clients. More recently, it bought out Tweetdeck.

Twitter says it wants to keep its user experience consistent. Uh huh! And in the case of photo sharing, the advertising revenue will be nice too.