Twitter may receive US$35 million investment
Posted by Alisa Zykova on February 17, 2009 at 2:12 PM
Popular microblogging network Twitter is rumoured to be receiving financial backing worth US$35 million from Benchmark Capital and Institutional Venture Partners, bigmouthmedia.com reported Tuesday. Benchmark partner Peter Fenton may join the Twitter board after the investment deal.
"We are now positioned extremely well to support the accelerating growth of our service, further enable the robust ecosystem sprouting up around Twitter, and yes, to begin building revenue-generating products," co-founder Biz Stone said.
"We are now positioned extremely well to support the accelerating growth of our service, further enable the robust ecosystem sprouting up around Twitter, and yes, to begin building revenue-generating products," co-founder Biz Stone said.
According to Stone, Twitter saw a 900 percent growth in users in a
year. One out of 10 Internet users and one out of five 18-to-34-year-olds
uses Twitter, bigmouthmedia.com reported. Numerous servers support the
network and it currently has around 29 staff members, netimpreative.com wrote.
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