Twitter Could 'Go for Years' Without Earning a Dime, Investor Says

Apparently, Twitter doesn't need a business plan. At least not for years to come."We've got a ton of cash. We have far more cash then we need, so I'm not in any hurry," said Todd Chaffee, General Partner at Institutional Venture Partners, or IVP.Chaffee, in an interview with Wired.com, says the microblogging service that is the darling of the social media set — and the object of a persistent drumbeat of questions about how and when it will actually earn any money — is well north of $50 million on the balance sheet. And that, he said, can last them for years. (Snyder, 2009)

I would have taken the $50 million and retired. The Youtube guys are sitting on an island somewhere, drinking cocktails and talking about how awesome they are, the Twitter folk are fools not to do the same.

Snyder, Chris (2009,2,13). Twitter Could 'Go for Years' Without Earning a Dime, Investor Says. Retrieved February 14, 2009, from wired.com Web site: http://blog.wired.com/business/2009/02/twitter-still-l.html