Twitter Gets Series B Funding and Jeff Bezos

June 24th, 2008 at 12:00 am
 


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[Image Credit: PC Weenies ]

Twitter has officially closed their second round of funding.  The round was led by Bijan Sabet of Spark Capital along with Jeff Bezos of Bezos Expeditions and Twitter’s existing partners Union Square Ventures and Digital Garage.   The series is rumored to be $15 million but Twitter has not disclosed the official amount.  Bijan Sabet also accepted a seat on the Twitter board of directors.

The more surprising news than the closing of the round is the participation of Jeff Bezos.  If you still don’t know, Bezos is the founder of Amazon, one of the great internet tools that have changed shopping forever.  This fact is interesting in light of Twitter.  If the man behind Amazon believes in Twitter, there is a high possibility that Twitter may also be a utility that may change the way we communicate forever.  We’ve definitely seen its potential as an effective medium during the recent China earthquakes and Myanmar typhoon.

However, Twitter believes that these things are still a couple of steps away and that the invested money in them will still be used for refining their infrastructure.  If you recall, Twitter has had a lot of outages in the past months and only until recently have they gotten their system stable again with the help of Pivotal Labs.

Anyway, Twitter will be focusing their attention on making themselves a sustainable business and communication utility.  Biz Stone, Twitter CEO writes, "Twitter will become a sustainable business supported by a revenue model. However, our biggest opportunities will be worth pursuing only when we achieve our vision of Twitter as a global communication utility. To reach our goal, Twitter must be reliable and robust. Private funding gives us the runway we need to stay focused on the infrastructure that will help our business take flight. We will continue hiring systems engineers, operators, and architects, as well as consultants, scientists, and other professionals to help us realize our vision."