Twitter planning "revenue-generating products"

Grabs $35 million funding in the meantime

13 February 2009 21:45 GMT / By Stuart Miles

Twitter has said that it plans to begin "building revenue-generating products" as pressure mounts for the micro-blogging service to start making money.

The news comes on the back of the company securing $35 million in a new wave of funding.

"We weren't actively seeking more funding because significant capital from last year's partnership...Nevertheless, our strong growth attracted interest and we decided to accept a unique opportunity to make Twitter even stronger with a very attractive offer", founder Biz Stone said on the Twitter company blog.

The founders hope to use the new round of funding to support the accelerated the growth of the service.

Twitter founder Biz Stone has confirmed that the world wide media attention on Twitter has meant that the micro-blogging site has seen active users increase by 900% in the last year. "Even though our web traffic is amazing, we see twice that traffic to the APIs", confirmed Stone.