I don't know what kind of Christmas party blackmail the founders of Twitter have on major investors T. Row Price and Insight Venture Partners among others but it must have been bad enough for them to throw another 100 million their way. With their newest injection of capital the company has attained a theoretical value of 1 billion dollars and it gets better.
Biz Stone, co-founder of Twitter, made a statement to reporters in Tel Aviv on November 24th stating that Twitter will "start making money" in 2010 by means of "non-traditional" advertising.
My favorite part of this entire story is that Stone still feels there is no need to create a business plan because they have so much money that it doesn't matter.
"There are no dates when we need to break even. We have plenty of money in the bank," Stone said.read more...