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March 1, 2009

Founded in 2006, Twitter Does Not Stop Growing.

The amazing company Twitter seems like it can do everything. Twitter is announcing its new start-up, Twt.fm. Twt.fm is the latest in streaming technology. In the beginning, it seems like one could tweet almost anything, videos, images and now music. Twt.fm basically allows you to type in an artist, track, and your Twitter user name. That’s all you need to do. It is that simple.

About Twitter. Twitter is a company that is growing at a phenomenal rate. Twitter actually started out as a website where you can broadcast short messages to anyone signed up to receive them. The message has to be short, a maximum of 140 characters. With Twitter, you are not just entering another chat site, but an interesting combination of a chat room and a blog. You could have friends who are also signed on Twitter, such as friends from school or college. Now with Twitter launching Twt.fm, this gets even more interesting. Since Twt.fm is a music streaming site run by Twitter, you can log on to that site with your Twitter user name and go that much further.

Yet another start-up launched by Twitter is VacaTweet.com. This is another amazing innovation by Twitter. VacaTweet.com is the next best thing to e-mail. What VacaTweet.com does is allow you to write vacation replies to your Twitter user friends. Is almost like a small version of an e-mail account, yet it works like Twitter.

As an example of how pro lithic Twitter is at launching new start-ups, yet another start up is Tweetworks.com. This service basically is for those Twitter users that are in business. The way that Tweetworks works is you post a “tweet” on the Tweetworks site and it can be accessed from the Twitter site with a URL threaded to Tweetworks.com. You can also modify your tweets any time, yet you do not have to post them to Twitter.

Twitter employs 17 people and the people in Twitter’s management are Evan Williams, CEO; Noah Glass, co-founder; Alex Payne, engineer; Brit Selvitelle, engineer; Jeremy LaTrasse, operations manager; Jason Goldman, product manager; and Biz Stone, creative director. Biz Stone is the other co-founder of Twitter and he also serves as the company’s creative director. Mr. Stone’s other projects also include Odeo and Xanga.

Although Twitter is a quite innovative company, it does have its share of competitors. One of the competitors is Jaiku, which offers a service which allows people to become closer together by sharing their activity streams. An activity stream is a log of things that you do online as it happens. Jaiku offers a way you can connect with your friends or relatives online by sharing activities.

In 2008 Twitter raised $15 million in Series B funding with a $80 million in pre-money valuation from Spark Capital. Spark Capital is a Boston based vc firm that invests mainly in companies that are in the media and entertainment technology industry. Spark Capital also invested $35 million in Series C funding for Twitter in February of 2009. Along with Spark Capital, Bezoz Expiditions from Amazon.com also participated in this round of funding for Twitter. Other investors of Twitter are Charles River Ventures was founded in 1970 and is one of the most successful vc firms in the country and is Twitter’s major investor.

Twitter’s board of directors consists of only one person, Jack Dorsey. Mr. Dorsey is 31 years old and was originally the CEO of Twitter until 2008 and is the one who thought up the idea about Twitter and how Twitter works. Mr. Dorsey’s hometown is St. Louis and spent time at New York University’s computer department but dropped out, never earning a degree there.

Twitter has since its foundation become the poster child of Silicon Valley due to its rapid growth, however, the company does have some troubles that it needs to sort out. With the problems aside, however, the future does look bright for Twitter because of its large number of users.