Top Twitter App TweetDeck Raises “Several Million” Dollars

7 Comments

TweetDeck — which has seen its Twitter desktop app downloaded more than one million times — has raised “several million” dollars. London-based Tweetdeck raised $300,000 in a seed round in January led by New York tech investor and incubator Betaworks. Betaworks also participated in this round, as did TAG Ventures, PRO Founders Capital, Ron Conway, and Danny Rimer, Betaworks partner Andrew Weissman tells us. Weissman would not specify the exact amount TweetDeck had raised. The funding was first reported by TechCrunch.

TweetDeck founder Iain Dodsworth told our sister site paidContent:UK last month that the company was in talks to raise additional funds, saying “It doesn’t take much math to work out (that the seed funding is) not going to last a desperately long amount of time.” The company has ambitious plans to expand beyond helping users manage their Twitter conversations to aggregating web-wide updates, including activity on social networks and e-mail. TweetDeck also launched a free iPhone app at the end of June.

7 Comments

Robert Andrews

Call me old skool, but I use Twitter via the website.

ed dunn

Tricia,

You made a great point. Yes, companies will have an easier time monetizing off Twitter because Twitter basically is "giving it away" like a Chris Anderson book, lol…

The problem is as you stated, as more third parties create great services, Twitter will become a commodity utility resource.

Think of ebay with services like eCar, Paypal and others who was able to monetize off ebay infrastructure. But ebay revenue model is clearer than twitter.

There is no way someone with a million followers should not be paying Twitter….that's obscene to think about.

Adam

Tricia I think you are making sense, but I think in the long run twitter can make people need to visit their actual site if needed – I think twitter will always have the upper hand.

Adam

Adam

Exactly right Dan, it is a great little desktop app, very handy but if twitter is still working out how they are going to make money, its difficult to understand how something that is directly piggybacking twitter is going for 2 million pounds?

I think the twitter hype seems to have peaked and now you will see a decline begin.

Adam

Tricia Duryee

Just throwing this out there, but I wonder if the companies piggy-backing on Twitter may have an easier time monetizing because they have a more direct relationship with the end-user??? There's few reasons to go to the actual Twitter site today — although I suppose that could always change overtime.

Joseph Tartakoff

I should clarify that the company is not specifying exactly how much money it raised, only saying it raised "several million dollars." Of course, that's still very substantial.

— Joe Tartakoff, paidContent.org

Dan

Tweetdeck is a usefull little desktop app and iPhone tool but 2 million pounds? Twitter is unsure of its revenue strategy let alone a company that solely piggy backs on a viral phenomenon. Free as a business model hasn't worked. Can someone explain how Tweetdeck convinces investors to jump on board in 2009? This deal is like a 2006 mad money flashback. Unfortunately investors will one day wish they could jump back in time to steer clear of twitter hype.

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