Serial Web2.0 investor pumps Twitter valuation to $8bn

Twitter closed a "significant round of funding" yesterday, with lots of help from the Russian venture outfit that has already pumped large sums of cash into Facebook, Groupon et al. The micro-blogging site said that serial Web2.0 investor Digital Sky Technologies Global (DST Global) led the Twitter funding round, but didn't …

[DavCrav]

Generating tweets

"Twitter, which has more than doubled its employee headcount to 600 people in the past 12 months, said it was now generating over 200 million tweets per day on the service."

And generating how much money?

[Bilgepipe]

How much money?

Apparently it doesn't /need/ to generate any money - the people behind it just grab a chunk of that "investment" for themselves:

>>> Half of that money is understood to have been dished out to staff and shareholders at the privately-held company.

So they'll all be quids-in even if Twitter tanks.

[Anonymous Coward]

paid to shareholders

I'l bet Bernie Madoff wishes he'd though of that model, instead.

[CaptainHook]

$57M per Character

That $57M per character valution is simply a reflection on the superior writing skills of twitter contributors compared to professional writers, authors and reporters.

[fLaMePrOoF]

Hmmm....

"We will use these resources to aggressively innovate, hire more great people and invest in international expansion"

Wouldn't establishing any kind of ealistic revenue stream for the company be more useful?

[Far Canal]

Maybe I'm old but ...

I created a twitter account once just to see what it was about and it amounted to (in my opinion at least) nothing more than the verbal diarrhea that I try to avoid in real life. Other than inserting advertising into the streams, how do they expect to make money? Then again, why as why - no point hurting my brain thinking about it unnecessarily.

[Richard Jukes]

heh

And we thought Facebook was bad eh?

[Dr Who]

Is Twitter the new religion?

In a secular age, Twitter may well become the opium of the masses. A source of meaning and third hand opinion for the vast majority who are unable to formulate their own. A crowd sourced priesthood.

Once you control what they think, making money's a piece of piss.

[Aggellos]

not for profit should be a charity

can anybody sense another bubble is about to burst 26bn for Alibabas IPO and now this, how much does twitter loose per month now .