Twitter gets another round of funding

Tweet and ye shall have.

A source familiar with the negotiations tells me that Twitter signed a term sheet for "either $15 million or $20 million" last week. We're still trying to find out who is in, but the word is that it's largely an inside round of funding with one outsider setting the price.

On Friday, Valleywag reported that the company was trying to raise a third round of venture funding.

"There's a lot of interest in the company," says my guy, who is still scratching his head about future business models for Twitter. "It's yet another one of these audience growth stories without any understanding of how they'll turn into a business."

No matter. the venture world remains fascinated. Last summer, Twitter raised approximately $5 million.

[mswallace]

Chris, can you research Ariel Waldman's complaint about Twitter refusing to abide by its TOS, article was on Digg's front page today. She's being harassed by an anonymous troll thru @confession, who again today repeated his previous twittering "ARIEL WALDMAN IS A *****". Summize search it. I believe ***** is a threat, she asked Twitter for help and was denied. I believe she has asked for protection, notified Twitter of the harassment and they are now liable for any future threats. One of the two founders told me "its just name calling". Its not. Its sexual harassment, threatening her on the site. I bet the next round of funding might be interested in the fact that both founders decline to ban the anonymous harasser. This isn't 'free speech', its yelling 'fire' in a crowded building. It violates the TOS, which Twitter is not 'conveniently' changing to remove any responsibility on their part. Thank you for your consideration.