Why VCs love Twitter's downtime problems
Nicholas Carlson · 05/21/08 05:20PMLast we heard about microblogging service Twitter's latest funding round, Union Square Ventures partner Albert Wenger told us — and, via Twitter, the world — that he was taking a lunch meeting at Twitter HQ. That was April 25. Despite rumors of an imminent deal, there's been no announcement. So why can't Wenger and his USV partner Fred Wilson close the deal? One theory: an unexpected bidding war over a service that grows more mainstream every day. A source familiar with this type of funding situation explains: "You know that thing about failure is an orphan, success has a million dads? VCs want to buy the right to say Twitter was theirs." And for this crowd, Twitter's downtime problems are a bonus.