Is Twitter a billion-dollar company? It is now, according to its investors. People familiar with the company tell me it has raised around $50 million in a funding round that values the start-up, which has no real revenue to speak of, at about $1 billion.
Daylife, a news aggregator that launched a few years ago with a good deal of hype but has since retreated to the back pages, has landed another investor: Getty Images has bet $4 million on the company, which has raised some $12 million to date.
Twitter has weighed in on the hacker who rooted through the company’s files and on the Web sites that published some of the stolen info. The short version: Don’t blame Google for our security problems; we need to use better passwords. But do be careful about publishing hacked data; we’re talking to our lawyers. “Bring it on,” says Gawker.
One downside of being the world’s most talked-about start-up: You become an irresistible target for hackers. And now someone’s made off with a pile of Twitter’s corporate documents, apparently with Google’s unwitting assistance. Time to for a realistic solution to the cloud computing security problem.
MySpace CEO Chris DeWolfe is likely to be on his way out of the company he helped found, and News Corp., which bought the social network in 2005, has a single potential successor in mind. Sources say that person is former Facebook COO Owen Van Natta, who is currently CEO of music start-up Project Playlist. People familiar with the matter tell me that DeWolfe and News Corp., specifically new digital boss Jon Miller, are discussing a leadership change today.
What happens to the value of blogs when advertising craters and big media companies go into a tailspin? Take a guess. But a new list comparing top blog operations isn’t all bad news.
Remember the good old days of Bubble 2.0? When a webby company with no real business plan could raise piles of money at an eye-popping valuation? Those days haven’t gone away for Twitter, which is raising another $20 million or so in a deal that will peg the company’s worth at $200 million or more.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider. Read more »
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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