According to CNet, which is citing the infamous and notorious “source familiar with”, Twitter is close to raising $15-million to $20-million.
All I have to say is “Nice work, Twitter!”
It’s good to know that it’s still possible to raise gobs of venture capital on the basis of eyeballs/users as opposed to a business plan/revenue. It’s heartening that potential still counts as much as reality. And, gee willikers, it’s good to see the bubble that concerns so many people hasn’t burst yet.
Seriously, good for Twitter. You’ve got a service that’s being enthusiastically embraced by a growing number of people, and a thriving ecosystem more than happy to support it.
It’s difficult to turn around these days without seeing yet another Twitter-related service or, for that matter, someone else following your Twitter feed (even if many of them are pesky, evil spammers).
Twitter is a phenomena – much like Facebook was/is. We’re in the middle of a social networking revolution where the rules and, clearly, business plans are still being established. So what not strike when the iron is hot? Why not get what you can when you can if you’ve got investors willing to give you some dough-re-me?
Twitter may discover the business model that will convert users into revenue but it’s the belle of the ball right now so if someone wants to dance, let them!
More: Speaking of notorious, Sarah Lacy (aka Mark Zuckerberg’s Friend) is on the Twitter story. Mind you, she wonders why everyone is so excited and/or why a Twitter financing would be news. No argument here given Twitter’s lack of revenue and need for cash.
Update: TechCrunch reports that Twitter’s financing would give a value of $60-million to $150-million.
Bonus: Sexy chart of the Day:
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