Vyrotek|Bridging the gap between code and wealth

 CNet News has reported that Twitter has recently signed for $15-$20 Million in VC funding…

“A source familiar with the negotiations tells me that Twitter signed a term sheet for “either $15 million or $20 million” last week. We’re still trying to find out who is in, but the word is that it’s largely an inside round of funding with one outsider setting the price.”

I am amazed at how companies with no business model in sight can get so much attention and so much funding while other companies that offer a real service are finding it difficult to get funded. Obviously some people think that just having a lot of people using your services makes it valuable. My guess is that Twitter will end up like YouTube. Some company will end up buying them and that company will have to take a hit and pay for whatever it costs to keep it online until they figure out some business model.

I hope you twitter fans like webpages 80% covered in Ads as well as Ads in your twitter feeds.

In other news, I have yet to figure out why people use Twitter.