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Investing In Twitter's Future

Last month, I wrote about Twitter, a Web start-up company that allows users to post an answer to the question "What Are You Doing" across the Internet in 140 characters or less. It was a tough story to write because it's still somewhat unclear what the exact business model is for this company. It's not bringing in any revenue and doesn't seem to have a solid plan on how it will generate money.

But as Silicon Valley enters its next wave of start-up frenzy, coming up with a plan to determine how to make money gets in the way of trying to develop the technology into the next big thing. Could Twitter be that next big thing? No one knows for sure, but plenty of investors must think there's something there when it comes to Twitter.

This week, the company announced a round of funding from Union Square Ventures, Charles River Ventures, and a few angel investors, including Netscape co-founder Marc Andreessen, FeedBurner co-founder Dick Costolo, Silicon Valley venture capitalist Ron Conway and entrepreneur Naval Ravikant.

A blog entry by Union Square Ventures points out that Twitter is still an emerging technology - primarily a form of short communications that works on various platforms, including the Web, Instant Messaging programs and mobile phone text messaging systems. Author Fred Wilson writes that "some of the most interesting platforms on the web have been extended and enhanced by users and now support all kinds of activities and behaviors that the creators of the service never intended... I think we've only begun to see the kinds of things that can be built on top of a messaging system like this."

By Sam Diaz  |  July 31, 2007; 7:25 AM ET  | Category:  Sam Diaz
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