Thursday, May 29, 2008

Twitter Financing Update

As everyone knew Twitter was in the process of closing their next round of financing and there are now reports out that the raise is in the final stages of closing at $15M with Spark Capital out of Boston which places approx a $100M valuation on the Company.

I have read that Twitter's service has historically been bad but the last couple weeks have been a disaster and at present they are still not functioning on IM devices (which impacts a predominant percentage of the users).

As I commented last night in Mathew Ingram's post on the Twitter problems I am a relatively new user to Twitter (approx a month). I was almost entirely an IM user of Twitter in my short tenure. In the past week I have found that I have I have adjusted my habits to be able to use Twitter on my laptop (although not as frequently). I credit my subconscious willingness to do these unnatural acts to it being so new to me and wanting to continue to particpate in conversations and connect with my new Twitter friends. I also know I am not yet as emotional as some posters and users are about Twitter based on my newby status. Bottom line for me, I do not believe that I will sustain the modification of my behaviours to fit the available service but will soon modify the tool (change to FriendFeed) to fit the way I want to use it. It is new technology and it is free so I think it is fair to cut them some slack. But there is a lemming aspect to this and once some of the pioneers start moving the rest will move enmasse. Once people leave I think loyalty will build with FriendFeed and unless similiar problems occur there it will be difficult for Twitter to recover. I hope they get it fixed in the next couple days....I am rooting for them but I won't hold out much longer. For now I can be reached at