Back in January we reported on rumors that Twitter had raised a new round of $25 million on a $250 million valuation.
Let me say we were wrong.
The round was $35 million.
Recession? what recession?
$35 million in the middle of the largest downturn since the great depression for a service that has never made 1 cent. Let me repeat that last part: they’ve never made 1 cent. Years in, Twitter still doesn’t have a business model, which makes the funding even more obscene.
I wonder who will take on the Madoff role: Biz or Ev?