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Twitter Reportedly Gets $15Million Funding

         

engine

3:41 pm on May 22, 2008 (gmt 0)

WebmasterWorld Administrator 10+ Year Member Top Contributors Of The Month



Microblogging service Twitter has reportedly closed a $15 million Series B funding round, according to Om Malik of GigaOM.

Malik estimates that it will bring the company's valuation to about $80 million and that the round is led by a new investor rather than existing investor Union Square Ventures (though the latter is participating). CNET News.com originally reported late in April that Twitter had signed a term sheet for either $15 or $20 million.

Rumors peg the new lead investor as Boston-based Spark Capital. An independent source hinted to CNET News.com that this is likely indeed the case.

Twitter Reportedly Gets $15Million Funding [news.cnet.com]

rogerd

3:53 pm on May 22, 2008 (gmt 0)

WebmasterWorld Administrator 10+ Year Member



Interesting. Nice valuation for a company with no clear revenue model.

sem4u

4:09 pm on May 22, 2008 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



I have slowly got into using Twitter, but I can't see it being worth $80M!

rogerd

5:32 pm on May 22, 2008 (gmt 0)

WebmasterWorld Administrator 10+ Year Member



Some users seem to be addicted to it. I don't really get it either, but I'm probably the wrong demographic.

I guess the investors assume that if you can keep existing users engaged and add new ones, you'll find a way to monetize the traffic eventually.

bill

5:56 am on May 23, 2008 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member Top Contributors Of The Month



The Japanese version of Twitter that was released recently has ads built in.