Union Square Ventures just invested in Twitter, which explains why some folks in our Community Twitter room have been tweeting this week about hanging out with the Twitter guys. The investment should not have been a surprise, given that USV partner Fred Wilson confessed the other day that all he wants to do is Twitter (and unlike many of the rest of us, he’s figured out how to do it without being boring). But, nevertheless, given the huge Twitter buzz these days–and our own use of the service–it’s exciting.
USV’s co-investors include Charles River Ventures (west coast office), Marc Andreessen, Dick Costolo, Ron Conway, and Naval Ravikant. The investment will allow the Twitter guys–Evan Dorsey, Jack Williams, Biz Stone–to professionalize a business that has been marvelously but also frustratingly casual to date.
Twitter’s a winner, even though we’re all only just beginning to figure out how to use it. And between this news, yesterday’s sale of Tacoda to AOL, Feedburner to Google, Etsy’s profitability, Outside.in’s growth, and Fred and Brad’s non-stop blogging, it’s shaping up to be quite a year for USV.
In a wonky post on USV’s blog, Fred describes where Twitter fits in the communications hierarchy and explains why the firm invested. Meanwhile, over on the Twitter blog, the SF-based Twitter guys describe why they hoofed it all the way to the Alley.