Twitter’s funding was officially confirmed. From @ev:
There’s a lot of talk today about our financing. Yesterday we closed a significant round of funding with a group of investment firms that we’re excited to publicly thank: Insight Venture Partners, T. Rowe Price, Institutional Venture Partners, Spark Capital, Benchmark Capital, and Morgan Stanley.
It was important to us that we find investment partners who share our vision for building a company of enduring value. Twitter’s journey has just begun and we are committed to building the best product, technology, and company possible. I’m proud of the team we’ve built so far and I’m confident in the future we’ll build together
Yesterday, I made comments to the effect that Twitter has found it’s business model, and it’s the continual process of raising cash. That could be interpreted that my view that Twitter, in fact, is not worth the $1 Billion valuation they’re at now.
That interpretation would be a mistake. As I’ve talked about in the past, Twitter is very worthy of that valuation, as can be evidenced by quick back of the envelope math of how they could start raking in potentially more than a billion a year with a weekend’s worth of coding.
My frustration continues to stem from the fact that Twitter has not acted on their own best interests, and has continued to piecemeal the company out to investors when they could just as easily raise enough revenue to start looking at serious acquisitions of their own.
In other words, wasted potential.
