Twitter reportedly closes $15 million funding round
Microblogging service Twitter has reportedly closed a $15 million Series B funding round, according to Om Malik of GigaOM. Malik estimates 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).
Rumors peg the new lead investor as the Boston-based Spark Capital. An independent source hinted to CNET News.com that this is likely indeed the case.
But even as Twitter’s valuation reportedly escalates and it slowly breaks into the mainstream from Silicon Valley (Oscar-winning screenwriter Diablo Cody recently discovered it) problems remain: Only its Japanese edition displays advertisements, and executives still haven’t unveiled any alternate revenue stream. And despite a recent employee shuffle on the engineering side, the service is still plagued by outages that, while they certainly aren’t any kind of global catastrophe, can be quite a bit annoying for active users.
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Twitter reportedly closes $15 million funding round
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