(2007-07-27) Twitter Funding Union Square

EvHead sought VC funding for Twitter.

Fred Wilson jumped in (actually, they initially talked early in the year).

But blogging (WebLog) is not without it's limitations. With a focus on publishing a formal, reverse-chronologically formatted web page, blogging lacks the banter that characterizes most forms of live conversation. Twittering is an emerging new form of communication on the Internet that changes the expectations associated with other forms of communication and yet it's fundamentally different than blogging. Twitter provides a platform for banter that blogging doesn't and it's available in so many places via IM, mobile Text Messaging, or the Web that it induces a different sort of behavior. Twitter encourages people to adapt and invent behavior to suit their needs. I'm not sure I agree with that, I don't see that much bantering going on, though there is definitely some.

He noted the importance of their API. Open systems that support emergent behavior are way more likely to become Platform-s and we are excited by the possibilities of new consumer facing web platforms.

As we stated when we made our investment in Del.icio.us, The question everyone asks is "What is the Business Model?" To be completely and totally honest, we don't yet know.