More details on Twitter’s new bake sale…
More details on Twitter’s new bake sale from the Wall Street Journal:
Twitter, the messaging web site that has become an Internet sensation, is nearing a deal to close as much as $100 million of new funding from as many as seven investors, according to people familiar with the deal.
The investors are valuing Twitter, which has yet to generate revenue or finalize its plans for making money, at about $1 billion. A person familiar with the deal said investors are applying a similar value to Twitter as that applied to Facebook, which at one point was valued at $15 Billion.
The company still isn’t generating any real revenue, though executives say they are discussing various options, including advertising and premium services targeted at businesses.
The deal is expected to close today. It is Twitter’s third and largest round of fund-raising.
Sigh. Fundraising as a business model. Isn’t this pretty much the same modus operandi as Girl Scouts, only sans the Thin Mints?
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