Talk to anyone about what little technology company has a chance at being the Next Big Thing in social media, and chances are you'll hear the name "Twitter." Everyone's twittering about Twitter, even my mom knows all about it. News of the platform's $15 million funding round has been making the rumor rounds for over a month,
Today the rumors were confirmed with news of the funding on the Twitter blog, and a new nugget: Jeffrey Bezos of Amazon.com (NASDAQ: AMZN) is one of the funders, through his personal investment company, Bezos Expeditions. The company didn't confirm the size of the round (or so much of a whisper of the company's valuation), but said they would spend the money on the always-aching infrastructure and reliability.
As my favorite media analysis guy Marshall Kirkpatrick says, "As founders are concerned, Bezos could be called Mr. Scalability - making this an awesome partnership to tackle Twitter's biggest obstacle." It may not prove great things for Twitter's one-day IPO; Bezos certainly hasn't proven to be a brilliant generator of shareholder value -- but for today, it's proof that the great idea has a lot of legs.
Twitter gets venture funding from Amazon.com's Jeffrey Bezos
Posted Jun 24th 2008 4:44PM by Sarah Gilbert
Filed under: Deals, Amazon.com (AMZN)
Entrepreneur's Journal: Putting together a solid sales contract
The week in preview: Earnings from Walmart, Macy's, and other retailers
Six top trades for the rest of 2009
