More reports are coming in about Twitter, the micro-messaging service, raising a new round of funding. Twitter has signed a term sheet for either $15 or $20 million, CNET is reporting. This is in line with earlier reports that the company was attempting to raise a new series C round.
A $15 million round is thought to put the company’s total value in the $60 to $75 million range. This is well below the $150 million valuation it was said to be looking for, but still a hefty sum.
One can only assume the money would be used to expand infrastructure and make the service more scalable as it continues to grow. We’ve contacted Twitter about the funding rumor and will update if we hear back.
update: Twitter co-founder Biz Stone got back to us that they have nothing to share on the rumor.
Tags: co:Twitter
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11:56 pm
Twitter Gets More Money : The Blog Herald said:
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[...] helping an American reporter get out of an Egyptian jail as well as public debate about its rumored funding (Twitter is a poster child for web companies that focus on growth, rather than revenue — it [...]
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[...] ניתוח מעניין של Kara Swisher מ- All Digital Things. וגם ב-Venture Beat כבר מטילים ספק (פעמיים, [...]
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[...] you. Do you need more servers? Can you not find anyone to help scale the service? Do you maybe need more funding? We know some people in that [...]
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Twitter isn’t failing on purpose, but it’s still failing » VentureBeat said:
[...] hope Twitter’s new round of funding is wrapped up and it can hire some new personnel who can correct these issues. Otherwise, it may be [...]
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[...] site itself) explodes. Tonight GigaOM’s Om Malik reports that the site has not finalized a $15-20 million round as was previously rumored, but instead is in the middle of a bidding war between at least a couple [...]
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Twitter finally gets its new round of funding; “very strong” valuation » VentureBeat said:
[...] have not been disclosed yet, but we have inquiries out to all parties. The round was previously rumored to be for $15 [...]