If you have used Twitter you either love it or can’t wait to get off it. Social networking meets micro-blogging.
The company just closed on another round of funding, although it basically swears it didn’t need it. Most reports put it at $35 million, and that is after $20 million raised already.
The company calls it “an offer we couldn’t refuse” and commented:
“We weren’t actively seeking more funding because significant capital from last year’s partnership with Bijan and his team at Spark is still in the bank. Nevertheless, our strong growth attracted interest and we decided to accept a unique opportunity to make Twitter even stronger with a very attractive offer…. Last night, we closed on funding with our friends Peter Fenton from Benchmark and Todd Chaffee from Institutional Venture Partners. When Ev and I visited IVP we were very impressed and Benchmark’s approach regarding teamwork was equally inspiring—every partner is invested in each others success. Peter will be joining our board of directors which means we gain his experience and savvy in addition to that of all his partners.”
This is a good news, good news story. Or so we hope. 24/7 Wall St. uses Twitter, and you can follow us there any time.
Congratulations on your developments. Let’s hope the investors don’t put the heat on you too much!
The 24/7 Wall St. Team
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