Feeds

Twitter force-fed $35m in venture capital

Web2.0rhea king mocks Meltdown

Top three mobile application threats

Amidst the deepest world financial crisis since The Great Depression, Twitter has landed another $35 million in funding.

Co-founder Biz Stone claims his Web2.0rhea outfit wasn't looking for more financing. But two separate venture capitalists insisted, defying countless claims that tech VC is drying up. And according to Silicon Valley Insider, it was a $35 million force-feeding.

"We weren't actively seeking more funding because significant capital from last year's partnership with [Boston-based VC Spark Capital] is still in the bank," Stone said, with a (macro) bog post this morning. "Nevertheless, our strong growth attracted interest and we decided to accept a unique opportunity to make Twitter even stronger with a very attractive offer."

The click mavens at Hitwise claim that Twitter is now the 84th most visited site on the web. And according to Stone, this only begins to explain the popularity of his microbogger.

"Twitter is growing at a phenomenal rate," he burbles. "Active users have increased 900% in a year and even though our web traffic is amazing, we see twice that traffic to the APIs. Interacting with Twitter over SMS is also getting more popular every day. Our relatively small team of 29 employees has accomplished quite a bit lately but it's obvious that we have the world ahead of us."

Twitter is a way of bombarding the world with an endless stream of self-serving mini-messages. Many people enjoy this Web2.0rhea, on both phones and PCs. But for Biz Stone and company, it pulls in exactly zero dollars a month in revenue.

But since the fall, the company has hinted at the imminent arrival of some mystery money-making magic. "We are now positioned extremely well to support the accelerating growth of our service, further enable the robust ecosystem sprouting up around Twitter, and yes, to begin building revenue-generating products," Stone wrote this morning.

But many wonder whether it's possible to make money from Web2.0rhea. Since it's already free, you can't charge for it. You can't inject an ad into a 140-character mini-message. And you can't send ads as standalone messages. That's called spam.

Some argue the company may develop some sort of business-related service and start charging for that. But odds are, Stone and company will finally make their money by selling themselves to Google.

So that was $35 million well spent. ®

Combat fraud and increase customer satisfaction

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
Intel sees 'signs of improvement in the PC business' but earnings remain 'Meh...'
Prospects for the future, however, please Wall Street money men
What's a right pain in the ASCII for IBM? Its own leech-like hardware biz
Keep your eyes on our cloud while we remove this pesky thing, say execs
Oracle's Larry Ellison has the MOST MASSIVE PACKAGE IN PUBLIC
Billionaire IT baron earns twice as much as the next in line, Disney chief Bob Iger
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.