‘What I’m doing now’ website Twitter has been given $35m by two institutional investors even though it admits it doesn’t have a money-making business plan at all.
Institutional Venture Partners and Benchmark Capital have kindly stumped up the money, valuing the business (not that it is a business yet) at $250m.
The Twitterers-in-chief have said that they have no plans to charge the many companies that use the network to communicate with contacts and PR their businesses. Presumably because it would cost too much and be too much of a hassle.
But why shouldn’t companies pay for it?
Otherwise Twitter will be just like MySpace and YouTube; terrific but destined one day to fall into a big media conglomerate’s chilly clutches. Facebook will surely go the same way soon.
And they haven’t been able to wring any money out of these good things either.