An Infusion of Another $100 Million Is Seen for Twitter - NYTimes.com
Now the start-up appears to have chalked up another achievement. Twitter, which has no discernible revenue, is set to raise about $100 million of new funding that would value the company at around $1 billion, a person briefed on the company’s plans said Thursday.
via nytimes.com
Count me as a sceptic on the long term business value of twitter. Eventually twitter needs to not only have revenue but make a profit. I guess I am not as smart as the people putting up the money - but I don't see how that happens. The basic service needs to remain free, otherwise the users will run away. And twitter does not have a natural targeting mechanism, like search, to attract a lot of advertising. I just don't get it.
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