NEW YORK (AdAge.com) -- Twitter is raising a massive $100 million round of funding from seven sources, according to the Wall Street Journal. The round values the company at about $1 billion (four times its valuation last February) and the money raised will help the microblogging site build out its service while it also tries to nail down its revenue model, or models as the case may be.
Where will that revenue come from? Presumably you: marketers, media companies, anyone looking to get a message out to a group of followers or mine the Twittersphere for insights.
Twitter, which has already raised $55 million, has become a valuable resource for brands, both big, national ones and local ones, and can act as both a broadcast and a listening tool. Nielsen pegs its U.S. unique visitors at 25 million in August, but that's not necessarily a picture of regular users. EMarketer expects Twitter to have about 18 million of those by the end of 2009.
The service has said it will explore money-making models such as commercial accounts that would offer users extra targeting and data analytics and "discovery mechanisms," which many people have referred to as some sort of search. Its recently revised terms of service leaves the door open for advertising, although it won't be implementing ads this year, co-founder Biz Stone said recently at the 140:Twitter conference in Los Angeles.
We want to know what you think the company should do with its newfound riches? Let us know in the comments.