Twitter Ventures Backs Micro-Location Startup Swirl in $18M Round


Swirl founder and Chief Executive Hilmi Ozguc says his startup doesn’t now have a deal with Twitter to use its technology but “it would be a logical outcome of the investment.”Mark Thomson

In what could be a long-term plan to bolster its mobile-advertising tools, Twitter Inc., through its venture arm, has made a strategic investment in micro-location marketing startup Swirl Networks Inc.

Twitter Ventures and two unnamed groups participated as new strategic investors in Swirl’s $18 million growth round at what Venture Capital Dispatch learned was a valuation around $150 million.

The infusion is significant for Twitter in both potentially bolstering its growing advertising business and in marking the second investment it has confirmed doing since formalizing its venture investing activities. As when it invested in mobile operating system startup Cyanogen in March, Twitter declined to talk about the investment…

Twitter Ventures Backs Micro-Location Startup Swirl in $18M Round

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