The turnaround begins? Twitter gets its $15 million funding
Today was a very bad day for Twitter. Yes, it was down on and off throughout the afternoon, but that is really a given at this point. The bigger news was its admission that it had no idea what the problem was that was causing its downtime.
The service has reason to smile tonight though as it has closed its second round of funding, according to GigaOM.
The new round is said to be for $15 million and will put Twitter’s valuation near $80 million. Not the $150 million some were suggesting, but not too shabby either.
Previous investor Union Square Ventures is said to have participated with another, as yet unknown firm leading the round. We’ll update when we know more.
Hopefully now the repair and healing process can begin for the service, which, despite my criticisms, I still am very bullish on.
[photo: flickr/tracy o]
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About the Author, MG Siegler
MG Siegler writes about technology trends and new media for VentureBeat, with a focus on mobile topics, social elements and key news stories. Before that, MG wrote about technology on his blog, ParisLemon. Originally from Ohio, MG attended the University of Michigan where he studied film. He's previously lived in Los Angeles where he worked in Hollywood and in San Diego where he did web development. He now lives in San Francisco.
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