Twitter, the so-called micro-blogging service, is the subject of quite a lot of venture capital interest these days. The bidding war that is apparently developing over the financing of its next round will leave it with a valuation of about $70 million. Really? $70 million?
Ok, I realize that it's managed to attract quite a following and eyeballs do mean advertising revenue bucks, but I just don't get the appeal. Are there really that many people interested in following every move their friends make?
If you're not already aware of it, or god-forbid a user, Twitter allows you to track the minute-by-minute moves your friends make. Their website explains it as follows:
Twitter is a service for friends, family, and co–workers to communicate and stay connected through the exchange of quick, frequent answers to one simple question: What are you doing?
I'll admit that it's an original, if not interesting, idea. But a business? It really makes you wonder sometimes about how many better business ideas lost-out on financing because the money went to ventures such as Twitter. Am I being too harsh? Do I just not get it?
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