Twitter gets another round of funding
Tweet and ye shall have.
A source familiar with the negotiations tells me that Twitter signed a term sheet for "either $15 million or $20 million" last week. We're still trying to find out who is in, but the word is that it's largely an inside round of funding with one outsider setting the price.
On Friday, Valleywag reported that the company was trying to raise a third round of venture funding.
"There's a lot of interest in the company," says my guy, who is still scratching his head about future business models for Twitter. "It's yet another one of these audience growth stories without any understanding of how they'll turn into a business."
No matter. the venture world remains fascinated. Last summer, Twitter raised approximately $5 million.
Charles is an executive editor with CNET News. He has covered technology and business for more than 25 years. A graduate of Queens College and Columbia University, Cooper began his career in journalism at the Associated Press before moving to technology coverage. Before joining CNET News, he worked at Computer & Software News, Computer Shopper, PC Week, and ZDNet. He received the Excellence in Journalism award from the Northern California branch of the Society for Professional Journalists for column writing. In addition to his blogging and podcast appearances, he is a co-host of the CNET News Daily Debrief. E-mail Charlie.
