Twitter Raises $15 Million in VC Cash

The timing couldn't be better to raise this round of VC financing as Twitter needs tweaking. You can find out more about the cash specifics here at Gigaom.

There is currently a cascading effect happening on this site. The uptime isn't of late, so...."up" as it is "down". This means that people who require the need to update the world on the bagel type they're having at this very moment (I use twitter but not for bagel updates), are quickly looking for other solutions to their need for micro-blogging.

So what is that solution, well Jeremiah Owyang (and a few others) has been mentioning the fact that there is a bit of an exodus to a new social media aggregation service called Friendfeed.com. This is a site where you can keep up to date on almost all of your social networking habits (er channels) and that of your friends and colleagues. What this means for twitter, a company that despite the new cash is scrambling to save itself from the lack of apparent scalability capability is that they are in serious damage control mode...this may all be the fact that they're a victim of their own success and the technology is breaking down. This also means that the "pre-money" valuation of $80 million for twitter may not stay there for long if they continue to lose twitter enthusiasts in the droves they currently are...Everytime someone like Jeremiah says Friendfeed another group takes off. This is an "early-adopter" technology to say the least and the early-adopter crowd is fickle (like everyone else online I guess), keep em happy and perform or they're "outta here" and in many cases gone for good...

Oh the pressures of a near $100 million dollar tech company eh???