Feb 14 2009
Twitter more richer by $35 million
Are you crazy about using twitter. If not anyone clearly assume that you may not yet gained its full strength, as for those who using this is well aware of its growing rate among the blogger and net users. What has been shown today, it has increased its active users about 900% and the web traffic it is receiving is quite fascinating. It is receiving traffic twice as to the APIs. This is something like when you get the hottest start up, then you don’t need to care for money funding it’s automatically comes to your way. For twitter it has a bonus point as its SMS service offered to its users is also getting more popular day by day. The service’s growth has been powered by a thriving ecosystem of developers who create programs that make Twitter more useful.
This is what when you are in Limelight you get a lot of opportunity from other investers but according to the founder of Twitter Biz Stone “Our strong growth attracted interest, and we decided to accept a unique opportunity to make Twitter even stronger with a very attractive offer,” he wrote in a corporate blog post titled “Opportunity Knocks.” As he also added that they weren’t currently seeking any more funding because significant amount of capital from the last year partnership with Bijan and his team was still in the bank. This is what when they found a round up capital offer of $34 million capital round up from Benchmark and Institutional Venture Partners they couldn’t refuse it . Nevertheless, what he spotted that strong growth of Twitter attracted interest and this was why we decided to accept a unique opportunity to make Twitter even stronger with a very attractive offer.
They have gained this position with a group of only 29 people, but they hope their small team will grow up this year and they will focus on revenue generating products. So that they are well capable to face the challenged and opportunities ahead to find out the ways to pull money not just from venture capitalists but from everyone — or anyone — else.
