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Category: Technology Author : Duncan Riley Posted: January 25, 2009
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GTFO: Twitter said to have raised new round on $250 million valuation


twitter-funding

Until the very end, the citizens of Pompeii continued their decadent lives, until being buried for eternity. So may well be the case with web 2.0, with news via CNet that Twitter has raised a new round, believed to be around $25 million, on a $250 million valuation.

$250 million for a service that has never so much made one cent of revenue, and has only just hired a business guy to create a revenue model for them.

Sorry, but GTFO.

Sure, Twitter has become immensely popular, but so is email and sex, and not many people make good money from either, and at least there’s a clear revenue model.

The bigger question: what do they need another round for? They’ve raised $20 million already, with the last round being $15 million in June 2008. Either they plan on acquiring a revenue model, or they’ve run out of money already, and if that’s the case, why are they getting more exactly?

Insanity.

(img credit: Brettner)











Comments


8 Archived Responses to “ GTFO: Twitter said to have raised new round on $250 million valuation ”

  1. Scabr
    Jan 25, 2009

    It's the great innovation.In future investors would got from from 0 to 10X.

  2. Mark 'Rizzn' Hopkins
    Jan 25, 2009

    I'd imagine they're getting while the getting is good. That's my guess.

  3. sidharth
    Jan 25, 2009

    Duncan, I read the CNET story. They have mentioned that they are reporting what Techcrunch has blogged but have not linked to the original story. You should not have linked to them as well

  4. Duncan Riley
    Jan 25, 2009

    Sidharth, I got the story from them, so it's only fair I link in that direction.

  5. sidharth
    Jan 25, 2009

    But CNET did not link to their source . Which I think is very unfair especially for such a large organisation. That was my point. Well what you say also is absolutely correct


3 Trackback(s)

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  2. Jan 30, 2009 : The Vortex: The Volcano Bubbles « The Guidewire
  3. Feb 13, 2009 : We were wrong. Twitter took $35m, not $25m. What recession?