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Send to email | Twitter Closes Funding Round: Spark Capital, Jeff Bezos Join in AMZN | By Silicon el 24-Jun-2008 | Twitter's long-rumored funding round is finally real: Spark Capital and Amazon (AMZN) founder Jeff Bezos (via Bezos Expeditions) led the round, with existing investors Union Square Ventures and Digital Garage also participating. Spark's Bijan Sabet, an active Tweeter, joins Twitter's board.
Co-founder Biz Stone didn't get into financial details on his blog post, but the numbers are probably similar to the ones floating around in May -- a $15 million round at a "bit less than" a $100 million valuation.
What will Twitter do with the money? Obviously the company's first priority is building out its infrastructure -- so Twitter can keep growing without the downtime and interruptions all too familiar to avid users.
"Twitter will become a sustainable business supported by a revenue model," Stone writes. "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."
By the way: The company says it's reworking the broken Flash service that powered our Community Twitter page; In the meantime, you can still follow our Tweets here: The human-powered SAI Twitter account; our automatic, articles-only feed; managing editor Peter Kafka; and myself, Dan Frommer.
See Also: Twitter: Developers Love Us! Ten News & Information Twitter Feeds You Should Follow Corporate Twitters Worth Following - And Some You Should Avoid

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| StockTwits.com Closes Angel Funding | | StockTwits.com, a Twitter- and Tumblr-powered financial bulletin board, has closed an angel round of financing. The site skims Twitter for messages people tag with stock symbols -- $GOOG for Google, for instance -- and aggregates them on a Tumblr site with stock charts, tags, and comments.
StockTwit's investors include Wallstrip founder Howard Lindzon and Roger Ehrenberg -- both investor [..] Read complete article |  | Published 23-Sep-2008 by Silicon in General Read 3 times. More hits in  |
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| fav.or.it Founder Fires at Twitter and the Blogosphere, Fixes Twitter for Free | Call it a modern anomaly, herd mentality or whatever else you want but Twitter seems to continue to grow in popularity as its downtime issues get more pronounced. Amidst recent news of a successful funding round, Twitter’s problems keep getting worse as buzz throughout the blogosphere questions Twitter’s staying power. Is it really that hard [...] [..] Read complete article |  | Published 27-May-2008 by Zach Epstein in NetworksServicesdowntimefav.or.itNick HalsteadstabilityTwitter Read 5 times. More hits in  |
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