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Category: Technology Author : Duncan Riley Posted: February 13, 2009
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We were wrong. Twitter took $35m, not $25m. What recession?


twitterfail

Back in January we reported on rumors that Twitter had raised a new round of $25 million on a $250 million valuation.

Let me say we were wrong.

The round was $35 million.

Recession? what recession?

$35 million in the middle of the largest downturn since the great depression for a service that has never made 1 cent. Let me repeat that last part: they’ve never made 1 cent. Years in, Twitter still doesn’t have a business model, which makes the funding even more obscene.

I wonder who will take on the Madoff role: Biz or Ev?











Comments


2 Archived Responses to “ We were wrong. Twitter took $35m, not $25m. What recession? ”

  1. Mike
    Feb 14, 2009

    But, you could have said the same thing about Google when they were starting out. I thought twitter would never go mainstream, until I saw it mentioned on CNN not so long ago. Also the way they spoke about it, it was like everyone in the world knows what it is.


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