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What you need to know - Tuesday 9/21/10
Angie's list raises $22.5 million, Twitters security flaws and Nokia delays release
Twitter's security flaw creates a browser vulnerability. This flaw uses the onMouseOver Javascript function.
Nokia delayed the release of its N8 phone to October. The release did not specify the new date of launch.
Fuze brings its software to the iPad. The mobile meeting software allows for intergration with services like AIM, Yahoo, Google.
Move buys ListHub for $13 million. The ListHub management team will remain.
Social Vest launched its site. The site, which allows users to shop online and make a charitable contributions, just launched into public beta.
Quintic Corp raised $4.1 million. The company, which makes chips for wireless consumer products, did not release the source of the funding.
Sand Force raised $25 million in its D Series funding.The round was led by Canaan Partners.
Mail.com Media Services has sold Mail.com. The purchase was made for an undisclosed amount, by United Internet Group.
Facebook censors a groups page. The group in question, Boycott Target Until They Cease Funding Anti-Gay, have had sections of their account disabled.
Angie's List announced that it's raised $22.5 million from what they called, “multiple institutional investors”. While all of the investors are not named, Silicon Valley based firm Battery Ventures was involved in the funding.
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What is Twitter?
Twitter is an online information network that allows anyone with an account to post 140 character messages, called tweets. It is free to sign up. Users then follow other accounts which they are interested in, and view the tweets of everyone they follow in their "timeline." Most Twitter accounts are public, where one does not need to approve a request to follow, or need to follow back. This makes Twitter a powerful "one to many" broadcast platform where individuals, companies or organizations can reach millions of followers with a single message. Twitter is accessible from Twitter.com, our mobile website, SMS, our mobile apps for iPhone, Android, Blackberry, our iPad application, or 3rd party clients built by outside developers using our API. Twitter accounts can also be private, where the owner must approve follower requests.
Where did the idea for Twitter come from?
Twitter started as an internal project within the podcasting company Odeo. Jack Dorsey, and engineer, had long been interested in status updates. Jack developed the idea, along with Biz Stone, and the first prototype was built in two weeks in March 2006 and launched publicly in August of 2006. The service grew popular very quickly and it soon made sense for Twitter to move outside of Odea. In May 2007, Twitter Inc was founded.
How is Twitter built?
Our engineering team works with a web application framework called Ruby on Rails. We all work on Apple computers except for testing purposes.
We built Twitter using Ruby on Rails because it allows us to work quickly and easily--our team likes to deploy features and changes multiple times per day. Rails provides skeleton code frameworks so we don't have to re-invent the wheel every time we want to add something simple like a sign in form or a picture upload feature.
How do you make money from Twitter?
There are a few ways that Twitter makes money. We have licensing deals in place with Google, Yahoo!, and Microsoft's Bing to give them access to the "firehose" - a stream of tweets so that they can more easily incorporate those tweets into their search results.
In Summer 2010, we launched our Promoted Tweets product. Promoted Tweets are a special kind of tweet which appear at the top of search results within Twitter.com, if a company has bid on that keyword. Unlike search results in search engines, Promoted Tweets are normal tweets from a business, so they are as interactive as any other tweet - you can @reply, favorite or retweet a Promoted Tweet.
At the same time, we launched Promoted Trends, where companies can place a trend (clearly marked Promoted) within Twitter's Trending Topics. These are especially effective for upcoming launches, like a movie or album release.
Lastly, we started a Twitter account called @earlybird where we partner with other companies to provide users with a special, short-term deal. For example, we partnered with Virgin America for a special day of fares on Virginamerica.com that were only accessible through the link in the @earlybird tweet.
What's next for Twitter?
We continue to focus on building a product that provides value for users.
We're building Twitter, Inc into a successful, revenue-generating company that attracts world-class talent with an inspiring culture and attitude towards doing business.
