In this article we will tell you about twitter funding founders as Twitter has raised yet another round of funding of over $35Mn led by Benchmark and IVP.
Twitter,one of the fastest growing web services last year has raised yet another round of funding of over $35Mn led by Benchmark and IVP($21 million and $14 million respectively).The early investors of Twitter namely Union Square Ventures and Spark Capital have also jumped in this time but the funding amount is still under cover.
With the latest update on Twitter blog,it seems that the entire Twitter team(29 folks) is happy with the overwhelming growth and future prospects and we can expect Twitter to show up a lot of cards to the world in near future,turning itself a good proposition as a ‘Profit making business’.
And now when Twitter has attracted more than $55Mn of cumulative investment so far,a stable business model is a ‘Must have’ for the micro-blogging service.On the contrast,the encouraging fact for Twitter is that they have secured enough funds in their bank that they can last for years without generating a single penny.
Here’s an excerpt from the latest post on Official Twitter blog
Twitter is growing at a phenomenal rate. 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.
Now this sounds like Twitter folks are almost ready with their business plan and just waiting for the right moment to make it official.and this might happen as soon as first half of 2009(what we are estimating).
With more and more business activities commencing on Twitter,it’s no more a place to just tell your friends ‘What are you doing ?’.Twitter is getting frequently used by many startups/companies as a news/events/offers broadcasting medium.