Twitter to raise $250 Million

According to a report on the Washington Post website, Twitter is putting together a plan to raise $250 Million following their refusal to be bullied by Facebook. Michael Arrington of Tech Crunch suggested that venture firm IVP were to be the main initial backers.

What does this mean? In short, the Twitter team need some money but want to remain independent. It also means that they’re not going to go down the route of traditional advertising on Twitter.

Twitter Search though is another story. According to Biz Stone, Twitter’s co-founder, ‘within the next 10 days Twitter will be putting their search feature into the home pages of around 1% of member pages before rolling the feature out to everyone’ say Dot Sauce.

With Twitter’s huge recent growth and surpassing of Digg as the place to be seen, now is of course an ideal time to put out a call to arms and get some cash in the bank.

It will be interesting to see just what the raised money is spent on and how this will benefit Twitter’s millions of users.

2 thoughts on “Twitter to raise $250 Million

  1. Pingback: Pages tagged "twitter"

  2. Pingback: Posts about Michael Arrington as of January 26, 2009 » The Daily Parr

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