Print 17 comment(s) - last by suryad.. on Sep 20 at 11:15 AM

Twitter raises $50 million in new funding

Twitter is one of the fastest growing social networking sites online. The Tweets that users send out with 140 character limits have quickly become one of the most popular social networking platforms around.

Reuters reports that Twitter is closing a round of funding that puts a value on the company of a whopping $1 billion. The last round of funding that Twitter secured was in February and valued the company at $250 million.

Sources from TechCrunch claim Twitter CEO Evan Williams told Twitter employees about the new round of funding. Social networking sites like Twitter, Facebook, and MySpace are still working hard to prove that they can make money and prove viable in the long run.

Twitter currently runs no ads on its service, but recently changed its terms of service to allow for the possibility of serving ads. Speculation is that Twitter may begin running ads similar to those that Google uses alongside it search results.

Twitter users are able to run searches from the Twitter site to look for information about specific topic being posted in Tweets across the network. Twitter's popularity is booming and this may be the right time for the company to start selling ads.

Twitter grew to 44.5 million users in June, an increase of 15 times compared to the previous year. Analyst Salil Deshpande from Bay Partners said, "When something like Twitter or Facebook becomes a cultural phenomena, it's much more than the sum of the parts. It's really tapping into a cultural shift. As the network effect increases, the value increases."

Twitter is used by a massive and varying population. President Obama used Twitter during his campaign and the service is used by celebrities, news producers, and average citizens.

Comments     Threshold

This article is over a month old, voting and posting comments is disabled

By astralsolace on 9/17/2009 11:20:43 AM , Rating: 5
Twitter is inane. The terminology is obnoxious, and people enormously exaggerate its importance.

Twitter is the "Second Life" of the social networking community. You hear about it constantly, especially in the news, but no one you know uses it for any appreciable amount of time, and it's full of vapid, self-involved banter.

RE: Twitter..
By acase on 9/17/2009 11:27:15 AM , Rating: 2
I was sitting here trying to find words to describe the insanity but you just did it perfectly for me!

RE: Twitter..
By TomZ on 9/17/2009 12:11:28 PM , Rating: 2
For every new technology or cultural trend, there will always be a large portion of the population that doesn't "get it."

I don't mean that as an insult - I don't "get" Twitter either - I'm just saying that it makes sense to a lot of people but is also irrelevant to a lot of people.

RE: Twitter..
By invidious on 9/17/2009 12:58:08 PM , Rating: 3
It is just the latest way for insecure people to broadcast their problems to others in a vain attempt to seek acceptance and validation. Anyone who "doesn't get it" just means that they are a well balanced person who doesn't need constant attention to feel good about themselves.

RE: Twitter..
By AbsShek on 9/18/2009 8:17:20 AM , Rating: 2
So you're saying that all those celebrities having their tweets being read out on the radio are "insecure people trying to broadcast their problems to others in a vain attempt to seek acceptance and validation"?
Come to think of it... you're right!

RE: Twitter..
By quiksilvr on 9/17/2009 12:53:57 PM , Rating: 2
I agree to an extent. Yes here in the states it is used mainly for vapid, self-involved banter (nice word choice BTW), but there are other countries that use Twitter for breaking news coverage as well when the media of that country censors certain events.

RE: Twitter..
By ATTFdiggs on 9/17/2009 2:13:23 PM , Rating: 2
I think this problem is more of how users USE twitter and not so much the technology behind it. As for its worth, I will let others determine that, but it can be a very handy tool when used properly.

I do a weekly podcast about RC flight. We have a fairly large listener base world wide and use several methods to communicate to our listeners. Just like other countries use it to get news out passed censors, we share RC related News, specials from online vendors and ask questions of our listener base. We also use forums and facebook for the same thing, but Twitter tends to get you an instant response when sometimes a website will not. Twitter is easier than a listserve as well.

It has it's place, I wouldn't call it worthless, but I very much agree the way it is used produces a lot of worthless content. Once you get a good list of people to follow, and weed out the ones that seem to think people care to know they are eating lunch, or going to bed then you can make some good use of it. I too thought it was useless till I gave it some time and managed the list of people I follow.

RE: Twitter..
By Yawgm0th on 9/17/2009 2:23:41 PM , Rating: 2

RE: Twitter..
By Iaiken on 9/17/2009 3:00:52 PM , Rating: 2

The only good thing on twitter... and it still has no redeeming qualities...

RE: Twitter..
By suryad on 9/20/2009 11:15:46 AM , Rating: 2
Well said. But there are good things and bad things as is usual to this technology. I can see this being a boon for people in the news business. But you are right though because most of the regular masses of people using this service...just totally pointless. As such I dont have a twitter account nor do I have a facebook account. If I want to keep in touch with someone I call them and then I meet them in person.

Worth $1B? I don't think so.
By amanojaku on 9/17/2009 11:28:26 AM , Rating: 2
The company doesn't sell a product or service, yet it's worth money? It has only raised $57M in funding since its creation and has a simple "post 140 characters online!" format that anyone could have created, but it's worth $1B? I thought this fuzzy math died along with the .com's. Oh, wait, Twitter is a .com. Damned repetitive history...

By MastermindX on 9/17/2009 12:45:19 PM , Rating: 3
The company isn't worth $1B. What is worth $1B is the throng of "drones" login into it every day. It's the 2nd most usefull thing on the net after a botnet. (and probably a lot more profitable)

RE: Worth $1B? I don't think so.
By diego10arg on 9/17/2009 1:11:55 PM , Rating: 2
The company value is not only determined by it's actual revenue, but also what it could be in the near future. At it's growth rate it's expected to be really huge network as Facebook, MySpace, and many other sites.

Whether if it worth $1B or not, well, that depends on some expeculation.

RE: Worth $1B? I don't think so.
By amanojaku on 9/17/2009 4:22:37 PM , Rating: 2
Global Language Monitor: "Expeculation? That's word 1,000,001!"

By gmljosea on 9/17/2009 1:40:54 PM , Rating: 3
.com is over. Who the hell is insane enough to invest so much money in a service that doesn't produce any revenue???

By Gul Westfale on 9/17/2009 5:42:18 PM , Rating: 3
step 1: collect underpants
step 2: ?
step 3: profit

This bother's me a little..
By just4U on 9/17/2009 5:17:28 PM , Rating: 2
Twitter is one of the fastest growing social networking sites online.

I know Twitter has been around for quite sometime but up until febuary (or there abouts) None of us really heard about it. Or If we did it wasn't because of the way it is right now.

Then suddenly the media started talking about .. SUPPOSEDLY (according to the media, celebrities etc.) EVERYONE was using it. Yet you'd ask around and most never heard of it or used it. Still they kept drumming it up and drumming it up almost as though they were trying push it on people. The NEXT great thing that everyones on (but nobody really is)

Seems It worked I guess. Ticks me off a little. As it appears that we are all viewed as sheep. That can easily be led by the hand. While that may be true.. it sucks that it was so obvious.

Feel free to correct me if I am in error about this. But it just seems that way to me.

“So far we have not seen a single Android device that does not infringe on our patents." -- Microsoft General Counsel Brad Smith
Related Articles
Twitter Changes Terms of Service to Allow Ads
September 11, 2009, 3:15 PM

Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki