Twitter Announces Runway Round

Bijan Sabet and Jeff Bezos join investment team

To all my fellow Twitter Twelve-Step Members (T12). The official Twitter Blog announced today the holy grail of start-ups: runway money! And man, are they sounding corporate (me thinks Biz had a swarm of legal advice on this one):

"We're happy to announce two new members of our investment team: Bijan Sabet with Spark Capital in Boston and Jeff Bezos of Bezos Expeditions in Seattle. Bijan has also accepted a seat on our board of directors. We're looking forward to the guidance and advice both will bring to Twitter. Existing partners Union Square Ventures in New York City and Tokyo-based Digital Garage exercised their pro rata rights to participate in this round as well."

Project: Runway

"Twitter will become a sustainable business supported by a revenue model. However, our biggest opportunities will be worth pursuing only when we achieve our vision of Twitter as a global communication utility. To reach our goal, Twitter must be reliable and robust. Private funding gives us the runway we need to stay focused on the infrastructure that will help our business take flight. We will continue hiring systems engineers, operators, and architects, as well as consultants, scientists, and other professionals to help us realize our vision."

TPR interviewed Andrew Parker with Union Square Ventures last August. He was very excited about Twitter. I didn't get it. Now I do. In addition to Bezos Expeditions, Jeff started a little company called Amazon.com. Twitter me at petertpm.

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