Tweet this: Money and a promise from Twitter

The company finally closes its second round of financing and promises that yes, it will have a revenue model. Some day.

For all you Twitter addicts, here's meat for another tweet: The company has closed another round of financing, this time led by Spark Capital, along with Jeff Bezos' investment entity, Bezos Expeditions.

Bijan Sabe of Spark has also joined the company's board of directors. I'm trying to get a hold of a live, human being at the company, which makes an e-mail (or Twitter account) its only point of contact with the outside world.

As such, we're left to rely upon Twitter's uninformative press release for the rest of the details, which aren't many. In particular, we're still left guessing how much money the new investors ponied up. (In April, News.com reported that Twitter had signed a term sheet for a round of financing ranging between $15 million and $20 million.)

However, the company does go out of its way to promise that yes, one day, it "will become a sustainable business supported by a revenue model."

However, our biggest opportunities will be worth pursuing only when we achieve our vision of Twitter as a global communication utility. To reach our goal, Twitter must be reliable and robust. Private funding gives us the runway we need to stay focused on the infrastructure that will help our business take flight.

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About the author

Charles Cooper was an executive editor at CNET News. He has covered technology and business for more than 25 years, working at CBSNews.com, the Associated Press, Computer & Software News, Computer Shopper, PC Week, and ZDNet.

 

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