Twitter has raised a new $15 million round of funding, following a bidding war by venture capitalists interested to get a slice of the micro-blogging start-up, according to a report from GigaOm. According to GiagaOm, a new investor is leading the round with existing investor, Union Square Ventures also participating in this round.
Valleywag and Silicon Alley Insider had mentioned Spark Capital as a potential investor. Meanwhile, I am told that Charles River Ventures, after fighting a bit, is now out of the race. The news of new funding comes at a time when Twitter is dealing with a whole lot of scaling and infrastructure issues.
Twitter is building a formidable reputation in the social networking field, playing on the advantages presented through its service which is actively supported by its loyal user base. As Twitter has grown it has built an impressive membership, including many of the hopefuls in the current US Presidential elections. The service was also notably used by Los Angeles Fire Department when coordinating the fight against the rampaging wildfires of October 2007.
“What is obvious is that VCs are obsessed with the company that started out as a way to group alert to friends via SMS but now has become a communications tool and microblogging service. Several feeder startups that rely on Twitter have formed, and some, like Summize, have decent-sounding business models,” said GigaOM report.
Source: GigaOM
Filed under
Micro-blogging,
Twitter,
Venture Capital,
Venture Capital and Angel Investment | Comment Below
Related?
ArcelorMittal Unveiled New Clean Technology Venture Fund and New Carbon FundJuly 19th, 2008 World's largest steel-maker ArcelorMittal on Friday said it has launched a Clean Technology Venture Capital Fund with an initial investment of 20 million dollars in California-based Miasole. The new Clean Technology Venture Capital Fund has invested USD 20 million in California-based Miasole, which is engaged in the development of thin-film solar panels, while the Carbon Fund has an initial investment commitment of 157 million dollars, the steel-maker said in a statement.
Top 8 tips to Secure Venture Capital During RecessionApril 14th, 2009 Bad economy did a havoc in corporate world during the last one year. In turn, it forced companies to go either out of business or lay off people very often. As a ripple effect, venture capital for start up and midsized companies are also drying up. But, still there are handful companies who have been able to manage venture capital during this crunch period.
Twitter Acquires SummizeJuly 15th, 2008 Twitter has announced that it has acquired Summize, an interactive search tool and simultaneously launched its own search engine search.twitter.com. The new search tool has the exact same look, feel, and functionality of Summize, but with Twitter branding.
Twitter Hit 20 million Visitors in JuneJuly 14th, 2009 As opposed to the popular misconception that teens are the majority users for Twitter, lot of other people are also using Twitter. When the unique visitor hit is going down in US, Twitter's hit improved significantly in the last few months.
Trackvia Raises Series A for Point and click DatabaseJuly 14th, 2008 Trackvia provides software as a service for transforming ordinary spreadsheets into versatile databases. The Colorado-based startup has raised its first major round of institutional funding, the amount of which (while not disclosed) is being described as a “typical Series A”.
Amazon Invests in TwitterJune 25th, 2008 Amazon.com's Jeff Bezos is the latest investor in Internet communications firm Twitter, according to the company, as the much-watched firm announced its latest funding round in a blog post. San Franscisco-based Twitter, which runs a popular instant-messaging service.
Twitter Gaining Speed but Still in the Early StageMay 1st, 2008 Twitter, the micro-blogging platform, has been in the news quite a bit lately (in particular for VC funding ). Year on year, Internet visits to Twitter are up 8 fold.
A Close Look at TweetMic- New Addon Twitter App to Publish Audio Tweet for iPhoneMay 18th, 2009 You can create high quality audio recordings or "Tweetcasts" and publish them directly to Twitter with the help of new simple and intuitive addon app TweetMic. I would consider it a nice step to advance Social Networking one step ahead.
