Rumors are that Google made an attempt, Facebook admits a recent attempt, and Amazon founder Jeff Bezos already invested last June (2008). The most recent investment is reportedly
TechCrunch reported on 1/24/09 that Twitter turned down a $500M purchase offer.
In mid-February a $35 million investment in Twitter at a $250M valuation made headlines.
On 3/4/09 Business Week did a feature article on the red hot 3-year-old, and that same day Motley Fool speculated that Eric Schmidt’s recent comments could mean Google will acquire Twitter soon.
The latest investment supposedly was too attractive to resist.
Twitter reportedly took in about $15 million back in June, 2008. With the recent $35M and prior investments that comes to about $55 million invested so far. Stay tuned to see if Motley Fool’s prediction is true. Personally, I think they will be acquired by Google, but not so quickly. Co-founder Evan Williams already sold his last business, the famous Blogger, to Google so he’s been there and done that. He doesn’t likely need the money, but they know each other well. I predict Twitter will hold out, grow as fast as possible and will probably take something in the range of a $1 to $2 billion offer within 18 months.
Twitter Has Potential Buyers Atwitter - Business Week - 3/4/09
As the microblogging service explodes in popularity, the suitors are lining up. Facebook has already made a play—others will likely follow.
Twitter Gets Help from Bezos - Business Week - 6/26/08
Funds from the Amazon founder and Spark Capital will help the “stressing” microblogging outfit rebuild its technology
An index of Business Week articles about Twitter can be found here.
Posted by Daniel Endy at 11:43 AM.
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Twitter began in a "daylong brainstorming session" that was held by board members of the podcasting company Odeo in an attempt to break out of a creative slump
domain name registration. At that meeting Jack Dorsey introduced the idea of an individual using an SMS service to communicate with a small group, a concept partly inspired by the SMS group messaging service TXTMob.In total, Twitter has raised over US$57 million from venture capitalists. The exact amounts of funding have not been publicly released. Twitter's first round of funding was for an undisclosed amount that is rumored to have been between $1 million and $5 million. Its B round of funding in 2008 was for $22 million and its C round of funding in 2009 was for $35 million from Institutional Venture Partners and Benchmark Capital along with an undisclosed amount from other investors including Union Square Ventures and Spark Capital
credit card processing. Twitter is backed by Union Square Ventures, Digital Garage, Spark Capital, and Bezos Expeditions.The Industry Standard has remarked that Twitter's long-term viability is limited by a lack of revenue.[21] Twitter board member Todd Chaffee forecast that the company could make money from e-commerce noting that many users may want to buy items directly from Twitter since they already use it to get product recommendations and since companies already use it to promote products.[22]
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