Twitter's Early Stocking Stuffer: $200M

By Cindy Waxer December 16, 2010

Twitter is celebrating Christmas early this year. The wildly popular online communications service raised another $200 million from investors. As first reported by the technology blog, All Things Digital, Silicon Valley-based venture capital firm Kleiner Perkins Caufield & Byers is leading the investment at a $3.7 billion valuation. What’s more, Twitter added two new members to its board.

“As part of a significant new round of funding with investor Kleiner Perkins Caufield & Byers and existing investors, we've added two new members to Twitter's board of directors. Please join us in welcoming Mike McCue and David Rosenblatt. The experience these new directors bring to Twitter, along with this renewed investment, will help us continue to grow as a company and business,” stated Twitter’s blog, referring to the influx of money as a “stocking stuffer.”

In the past 12 months, Twitter users sent an eye-popping 25 billion Tweets and added more than 100 million new registered accounts. In that time, the company’s workforce has grown from 130 people to more than 350 today.

Twitter’s new funding round casts a positive light on Dick Costolo, the company’s newly appointed CEO. In October, Costolo succeeded Twitter co-founder, Evan Williams, who abandoned his post after a two-year stint. Of the changing of the guard, Williams wrote in a post on Twitter’s blog, “The challenges of growing an organization so quickly are numerous. Growing big is not success, in itself. Success to us means meeting our potential as a profitable company that can retain its culture and user focus while having a positive impact on the world. This is no small task. I frequently reflect on the type of focus that is required from everyone at Twitter to get us there…This is why I have decided to ask our COO, Dick Costolo, to become Twitter’s CEO. Starting today, I’ll be completely focused on product strategy.”

Since its 2007 launch, Twitter raised about $360 million.

Recently, MediaFriends revealed HeyWire, a real-time social messaging hub, which combines text, chat and IM across multiple screens, allowing the world's first mobile service to enable its users to access Twitter via SMS from anywhere in the world.




Edited by Jaclyn Allard

TechZone360 Contributing Editor

SHARE THIS ARTICLE
Related Articles

ITEXPO's IBM Keynoter: AI is Here Today

By: Paula Bernier    2/20/2018

Many folks think the artificial intelligence is something we'll see in the future. That's true. AI will be employed in a broader variety of more sophi…

Read More

The Blockchain Event Draws a Crowd

By: Paula Bernier    2/20/2018

The Blockchain Event in Fort Lauderdale draws a crowd, offers some answers, and raises lots of interesting questions. Why have some cryptocurrencies g…

Read More

Hughes: WAN Optimization Expertise, Homegrown Solution Differentiate SD-WAN

By: Paula Bernier    2/16/2018

The SD-WAN marketplace is a crowded one. But Hughes Network Systems says it brings unique expertise and proven technology to the table. And that, Jeff…

Read More

Juniper Security Expert: Behavior Analytics Helps Address Threat Complexity

By: Paula Bernier    2/16/2018

Organizations are changing their cybersecurity strategies, says Juniper Networks Cybersecurity Strategist Nick Bilogorskiy, who presented the closing …

Read More

Welbitz Wins ITEXPO's Idea SHOWCASE

By: Paula Bernier    2/16/2018

It was a sweep. Both the audience and the judges at ITEXPO's IDEA Showcase Thursday picked Welbitz as the winner. The company went up against fellow s…

Read More