Twitter Gets $250 Million Valuation
Pundits may suggest that now is a terrible time to solicit funding for a brilliant new idea, but we've always heard the only way to survive a recession is to innovate your way out of it. To that end, the micro-blogging phenom Twitter is seeking yet another round of funding as it looks to figure out a definitive revenue model. If you'll recall, the startup last landed a rather massive check in April of 2008, but if you thought that was impressive, get a load of these numbers.
MediaMemo is confirming an earlier report from TechCrunch that Twitter is raising a third round of funding that should "double both its valuation and the total amount of cash it has raised." We're told that it's seeking $20 million or so on a $200 million to $250 million valuation. As Silicon Alley Insider points out, that valuation means that the service's 6 million or so tweeters are worth around $40 apiece, and its 1 billion or so tweets (and counting) are valued at around $0.20 each.
There's still no direct report on how Twitter plans to turn the free service into a bona fide cash cow, but we're sure a few marvelous ideas are currently spinning in the minds of potential investors. VIP Tweeter just has a certain ring to it, no?
MediaMemo is confirming an earlier report from TechCrunch that Twitter is raising a third round of funding that should "double both its valuation and the total amount of cash it has raised." We're told that it's seeking $20 million or so on a $200 million to $250 million valuation. As Silicon Alley Insider points out, that valuation means that the service's 6 million or so tweeters are worth around $40 apiece, and its 1 billion or so tweets (and counting) are valued at around $0.20 each.
There's still no direct report on how Twitter plans to turn the free service into a bona fide cash cow, but we're sure a few marvelous ideas are currently spinning in the minds of potential investors. VIP Tweeter just has a certain ring to it, no?
