Tech & Biz

Twitter Closes New Round of Venture Capital

by Jordan Yerman | February 13, 2009 at 11:18 am

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Twitter just closed on a new round of venture capital. This means that I can keep following Jez, Super Hans and Big Suze.

The new amount wasn't announced, but rumor pegs it at around $20 million.

Last night, we closed on funding with our friends Peter Fenton from Benchmark and Todd Chaffee from Institutional Venture Partners.

So, while venture capital is thin on the ground for most startups, the money just flocks to Twitter. There are advantages to being the darling of the interwebs, it seems. Of course, this money isn't a gift: there are expectations of performance, even amongst friends.

We are now positioned extremely well to support the accelerating growth of our service, further enable the robust ecosystem sprouting up around Twitter, and yes, to begin building revenue-generating products.

New cash buys time, the most precious commodity of all during an economic downturn.

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Jarrett Martineau

at 11:34 on February 13th, 2009

A true sign of the times: while the New York Times and other mainstream news media (particularly newspapers) struggle to keep their heads above water financially, web startups like Twitter are paving a new road toward technologically-driven economic freedom. And I suppose 900% annual growth doesn't hurt either.