June 24, 2008
Twitter finds an Amazon tweety-pie
Twitter, the service that wisely restricts blog posts to 140 characters or less, has completed its much-anticipated third-round VC funding.
That’s 139 characters, so I should stop right there. Except to tell you that Jeff Bezos, Amazon founder, is now an investor, as is Spark Capital, the Boston VC firm, whose Bijan Sabet will take a perch on Twitter’s board.
Existing investors – New York’s Union Square Ventures and Tokyo-based Digital Garage – also took part in the round, but no figures or valuation for the company were revealed.
Twitter has suffered significant downtime of late as its popularity has grown. Biz Stone, co-founder, said in a blog note that the funding would help the company focus on its infrastructure to make Twitter “reliable and robust”.
Revenues and profitability would have to wait until Twitter had achieved its vision of becoming a “global communication utility,” he said.
I wonder how the new investors would answer the Twitter question “what are you doing?”
Posted by: Andy Warren | June 25th, 2008 at 2:10 pm | Report this commentWow. 140 characters? Jeff Bezos’ attention span must have compressed somewhat since launching Amazon. Or can we expect to see a series of classic books abridged to form a Twitter Collection?
Posted by: Peter Dunkley | June 25th, 2008 at 4:40 pm | Report this comment