Twitter Raises $35 Million

February 15, 2009 by admin

If you were worried about how the people at Twitter were going to pay the bills and stay online, you can rest easier now. Twitter just claimed $35 million in funding.

Several sources (VentureBeat,PE Hub,TechCrunch,Mashable, Gawker) have covered the funding news. Institutional Venture Partners (IVP) leads this funding round.

Twitter wants to compete with the big boys. But as VentureBeat points out, MySpace and FacebooksFacebook and MySpace feel the heat. Both have microblogging features in place and neither wants to be bumped from their place in line in the social networking world. (Facebook even tried to buy Twitter recently).

A recent estimate valued Twitter at $230 million even though it generates no revenue from its users and doesn't sell advertising right now. Twitter had previously raised $20 million in two rounds of funding.

TechCrunch has an interesting interview with IVP partner Todd Chaffee on why IVP invested in Twitter.

So how will Twitter change? To catch up with Facebook and compete with MySpace, Twitter will have to broad its serves some (I'd think) Or would that take away from its uniqueness?

Twitter is now $55 million in debt to its venture capital investors. Sooner or later it will have to begin actually making money. And that will mean changes. It will be interesting to see what those changes eventually look like…

Twitter Raises $35 Million
© qthrul


~admin

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5 Responses to “Twitter Raises $35 Million”

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  3. kurt kapani thought on March 2, 2009 at 12:08 am :

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  4. Hidrolik Mantar commented on March 7, 2009 at 8:57 am :

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  5. Social Networking commented on May 3, 2009 at 3:38 pm :

    ” $55 million in debt ”
    That’s not alot of money for twitter, Twitter is the new Social Networking site out there and it could easy make more money then Facebook or myspace, Just look at the twitter social networking people get money, Must very well educated!
    Twitter is the high-end Social Networking Site with high-end customers!

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