Twitter Raises $35 Million Series C From Benchmark and IVP, Others

I thought VC money was funding to build your idea before you had enough revenue from your users. Twitter is built, has millions of users and still need funding to continue? When is the honeymoon over?<p>Apparently never for the chosen few.

I wonder how much equity the founders have now.

just goes to show, that its much easier raising cash when you don't need it

BREAKING: Twitter files to become a bank holding company, in line to receive TARP funds. MORE TO COME /siren

Just when I thought it couldn't become any more ludicrous...

For all the comments about twitter being a money burning machine, you have to admit they are in many ways "upstream of revenue" (<a href="http://www.paulgraham.com/good.html" rel="nofollow">http://www.paulgraham.com/good.html</a> - second paragraph under examples). They have a lot of users. That's only half the equation, but it's one more half than most companies have.

So it's somewhere between $7-35 per active user?

Is Twitter actually just money burning machine?

Twitter is in the news a lot. At the Davos summit it seemed to be the only positive story in the entire world (twitter being used by legit journalists). It just works for a whole lot of folks. I suspect the new investors current opinion is that they just got the best deal of 09.

Twitter's blog entry on this news:<p><a href="http://blog.twitter.com/2009/02/opportunity-knocks.html" rel="nofollow">http://blog.twitter.com/2009/02/opportunity-knocks.html</a>

This twitter business is a joke. Over-hyped much?