Show me the money
It's been reported on TechCrunch that Twitter is seeking investment funds from venture capital firms.
No surprise really given Twitter doesn't appear to have any obvious or substantial revenue stream.
What did surprise me though was the valuation put on the company. One billion US dollars!
Obviously a large perecentage of that billion is the brand that has been built.
But how did they determine a valuation of that magnitude? Especially given it could be years before Twitter turns a profit.
If it ever does.
Just think about how quickly Facebook outgrew MySpace then imagine what would happen if a better cooler Twitter alternative came along.
Of course I could be completely wrong.
But having lived through the dotcom bust I can't help having a slight feeling of deja vu.
Labels: marketing, social media, twitter
posted by Stan Lee at 8:16 am
5 Comments:
If you want to know why Twitter can't figure out how to turn a $1 billion business into a revenue generator, read this:
http://www.portfolio.com/executives/features/2009/02/11/Twitter-CEO-Evan-Williams-Q-and-A/index1.html
"Do you get Procter & Gamble or companies like that saying, “We want to come talk to you and figure this out?” Yeah, every day. We don’t have any business people, though, so..."
"We literally have no business people in the company, so this isn’t an area we’re really focusing on."
He doesn't know how companies are using Twitter. He doesn't think it's important. He doesn't have any people who would know where to start.
Evan Williams believes in the purity of his concept and can't concern himself with trivial, archaic World 1.0 concepts like "business models," "revenue streams" and "profits." Passshaaawww..
The guys running Twitter are smartest, luckiest idiots I know.
Too bad they aren't bright enough to sell Twitter now, before the billion-dollar bubble bursts...
No, I think you're pretty sagacious, Stan.
Twitter has all the marks of a prototype -- rough edges, uneven scaling, unclear commercial purpose. I can see it superseded within 18 months.
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