Microblogging here to stay?

Wow. The Wall Street Journal says that Twitter is about to close a $100 million round of new venture capital funding that will value the company at $1 billion. The real problem, of course is that Twitter has yet to generate revenue or prove that it has any sort of sustainable business model. The new investors are rumored to include mutual fund firm T. Rowe Price and equity firm Insight Venture Partners. According to the Journal, these two are “atypical investors for such a company which has yet to generate revenue.”