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February 14, 2009

Twitter Wins $35 Million in Funding

Twitter bird sings money symbolsAccording to Advertising Age, Twitter just received $35 Million in new funding, in spite of no business model and claiming they really didn’t need the cash infusion:

Twitter has landed a reported $35 million in additional venture funding, despite the fact it still lacks a business model. The funding values the company at $250 million, according to news reports.

…earlier this week the micro-blogging service shrugged off speculation, based on a British news report, that it would start charging corporate clients. It would not, it said, start charging anyone for services that are currently free.

In fact, Twitter said it didn’t need the cash infusion — but the additional money was too good to pass up. “Our strong growth attracted interest and we decided to accept a unique opportunity to make Twitter even stronger with a very attractive offer,” the company said on its blog.

The story was also covered by the LA Times, saying: read more

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