Twitter finally closes a monolithic funding round
A much-publicized funding round for Twitter is finally come to an end as reported earlier in the week by AllThingsD. The dollar amount was $200 million at a valuation of $3.7 billion, led by investment firm Kleiner Perkins Caulfield & Byers, and coming with that Twitter has hired Mike McCue, CEO of buzzy iPad app start-up Flipboard, and David Rosenblatt, former CEO of DoubleClick.
Twitter has confirmed the funding round and additions to its board–divertingly terming it a “stocking stuffer”–but is withholding any further information on how it will be channeled into product strategy or hiring. Presumably, Twitter will continue to look out for engineering resources-technical and human, to support its growing subscriber base while its marketing product remains in a ductile, experimental phase. The round will also possibly allow long serving employees to cash out some company stock–much as Facebook did when Russian firm Digital Sky Technologies first invested in the social network.
Twitter’s previous funding round was nearly a year ago, and was equally a big amount–about $100 million, a round which one Twitter investor later said was not informed by a financial need.
Twitter has aggressively moved to a “business mode” over the past nine months or so, announcing its first revenue strategy in April. In October, CEO Evan Williams had to resign so that the more finance- and operations-focused Dick Costolo could come in.

