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]
8:48 am
We Don’t Know What We’re Doing But We’ve Got the Money to Fix It| Zoli’s Blog said:
[...] The turnaround begins? Twitter gets its $15 million funding [via Zemanta] [...]
12:58 pm
Twitter on its architecture: We can rebuild it. We have the technology. » VentureBeat said:
[...] also takes the time to mention that Twitter is hiring — no doubt thanks in part to that new round of funding that is rumored to have closed. If you want to make Twitter better, there’s no more direct way than getting involved in our [...]
9:49 pm
Twitter: Still not working, but explaining why on Twitter Status blog » VentureBeat said:
[...] other news, there is still no final word on the rumored to be finalized Twitter funding (which GigaOM first reported), but a little birdie tells us we’ll hear something soon. [...]