jeffrey bezos posts

Feed

Twitter gets venture funding from Amazon.com's Jeffrey Bezos

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.

Cramer slams Amazon.com, says Bezos 'buying revenue'

What is it about Amazon.com, Inc. (NASDAQ:AMZN)? Tonight on MAD MONEY, Jim Cramer remarked how the company saw its profit slip over 30%, yet the stock gained over 10%. While it may be hard for most to understand such a mixed-up Street, Cramer said it makes sense if you think like a Mad Man -- like he does.

Cramer has been a hater of Amazon for a long time, he said. Why is it up? He thinks that so many were betting against it that they now HAVE to love the quarter, theorizing that a lot of the pop is short covering because they had 14% of the float short. Cramer said the company didn't change the long-term picture, but they spooked the shorts because of the near-term (which is another way of saying the Street is afraid Amazon.com might someday be good). Cramer said if you owned it you can go to the cash register and ring it.

But Cramer said he stands by his long-term prediction that Amazon.com is no good and he screamed "WE WILL BURY YOU!" He accused the company of "buying revenue" and predicted its stock will go lower. Cramer thinks Amazon's management is focused elsewhere, pointing out that Bezos is building a spaceport. He said the expansion into every aspect of retail isn't working because it is just too big. The stock is just too expensive, trading at twice its growth rate. He thinks he isn't wrong on Amazon, the longs just got lucky. He ended saying "If you ask me, you don't want to go near it."

AMZN traded up 12% to $37.68 in regular trading, but it fell 0.8% to $37.38 after Cramer slapped it.

Jon Ogg is a partner in 24/7 Wall St. LLC; he does not own securities in the companies he covers.

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 11, 2012: 10:23 PM

Hot Stocks

General Electric

18.875-0.255(-1.33)

Alcoa

10.29-0.35(-3.29)

Apple Inc

493.42+0.25(+0.05)

Google Inc 'A'

605.91-5.55(-0.91)

Bank of America

8.07-0.11(-1.34)

Wal-Mart Stores

61.90-0.06(-0.10)

Exxon Mobil Corp

83.80-1.08(-1.27)

Ford

12.44-0.25(-1.97)

Citigroup

32.925-0.735(-2.18)

IBM

192.42-0.71(-0.37)

Yahoo

16.14+0.14(+0.88)

Starbucks

48.82-0.38(-0.77)

Microsoft

30.495-0.275(-0.89)

Home Depot

45.33+0.06(+0.13)

DailyFinance Headlines

AOL Business News

BioHealth Investor Headlines

Sponsored Links

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

Page Loaded in 1329017033815 ms.