Twitter Raises Cash - Valuation: $250 Million
Pretty astonishing news from TechCrunch [link]: Twitter raises money (~ $20 million), at a $250 million valuation. Astonishing that they do not offer any paid services. As TechCrunch notes, the cash infusion will allow Twitter to "figure out its business model" at a leisurely pace. [link via Kevin O'Keefe on Twitter (of course)] It's mind boggling that in these times, Twitter is able to raise funds without having sold a single product or service. Will Twitter flesh out its business model? Will it be gobbled up for its user base? Will it go the way of Friendster? Only time will tell.
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