Hot of the presses: Twitter raises $35M in funding!
As reported on the Twitter Blog:
Twitter is growing at a phenomenal rate. Active users have increased 900% in a year and even though our web traffic is amazing, we see twice that traffic to the APIs. Interacting with Twitter over SMS is also getting more popular every day. Our relatively small team of 29 employees has accomplished quite a bit lately but it’s obvious that we have the world ahead of us.
I know that people are getting tired of the relentless Twitter coverage in the online technology press–even in the mainstream media. But the hype–and even Twitter’s lack of a sustainable revenue model–don’t seem to be impeding Twitter’s very real growth. They’ll have to grow up someday, but I wouldn’t be quick to short on them. $35M may well keep them going long enough for them to figure out what they want to be when they grow up.
And, hey, I’m not just an observer, I’m also a user.
