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"Rumor is Twitter hit up more than a few venture firms to pitch the $250 million valuation, and got more than one 'no,'" TechCrunch wrote Saturday. "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."
That certainly would be a boon for Twitter, which until now has not shown signs of a viable business model. Though it is growing rapidly and has millions of users, no one knows how the company could support itself. Some have worried that while it is increasingly useful to the many people who rely on it, it might not be financially viable over time.