Some things just amaze me:

Rumor is Twitter hit up more than a few venture firms to pitch the $250 million valuation, and got more than one "no". But someone's bit, perhaps encouraged by Twitter's breakneck growth and the interest from Facebook. That means Twitter gets a new cash injection and time to figure out its business model at an even more leisurely pace.

I know everyone gushes over the number of people using Twitter, but that still doesn't add up to a revenue model. How many of the people using Twitter visit the website itself regularly? Even if they start tossing ads in the update stream, will that matter? I have yet to click on any of the ads Twitterific tosses at me.

The IPO market for startups is just about dead, between the high costs added by Sarbanes/Oxley and the general bad market we're in right now, and the bad market we're in has made a buyout from an existing firm less likely. I'd love to know what the people who tossed this money at Twitter think they'll get in return...

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