Charles Cooper of CNET has published a memo claiming that sources have revealed that Twitter signed a new term sheet for a round of funding valued somewhere between $15-20 million. The people involved in the funding are unspecified at this time.
The source for Mr. Cooper, an apparent skeptic of Twitter's long term viability, opines: "There's a lot of interest in the company. It's yet another one of these audience growth stories without any understanding how they'll turn into a business."
This is a question people have been asking repeatedly over the past few months. Without even so much as one ad to be seen on the US-based site, no one is quite sure how this company will ever turn into a money-making venture. As we reported the other day, Twitter Japan launched with ads, but the American site still stays conspicuously vacant of any such creature. Perhaps Japan is a test run to see how it is accepted. That's as logical an explanation as anyone can seem to muster at the moment.
As for the company's present status - with the persistent outages of service, the recent caching issues, and the repeated troubles for the API and its users - one might to wonder what their sales pitch has been to investors.
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