Twitter Reportedly Gets $15Million Funding

[engine]

Microblogging service Twitter has reportedly closed a $15 million Series B funding round, according to Om Malik of GigaOM.

Malik estimates that it will bring the company's valuation to about $80 million and that the round is led by a new investor rather than existing investor Union Square Ventures (though the latter is participating). CNET News.com originally reported late in April that Twitter had signed a term sheet for either $15 or $20 million.

Rumors peg the new lead investor as Boston-based Spark Capital. An independent source hinted to CNET News.com that this is likely indeed the case.

Twitter Reportedly Gets $15Million Funding [news.cnet.com]

[rogerd]

Interesting. Nice valuation for a company with no clear revenue model.

[sem4u]

I have slowly got into using Twitter, but I can't see it being worth $80M!

[rogerd]

Some users seem to be addicted to it. I don't really get it either, but I'm probably the wrong demographic.

I guess the investors assume that if you can keep existing users engaged and add new ones, you'll find a way to monetize the traffic eventually.

[bill]

The Japanese version of Twitter that was released recently has ads built in.