Liz Gannes

Recent Posts by Liz Gannes

Twitter Buys Posterous; It’s Not Quite an “Acqhire” as Product Won’t Be Shut Down

Posterous, once a blogging service competitive with Tumblr and now a group conversation tool, has been bought by Twitter.

The company’s product, Posterous Spaces, will remain up and running. “We’ll give you ample notice before any changes or disruptions to the service and we’ll provide specific instructions for exporting your content to another service,” Posterous told users.

Most of Posterous’ employees joined Twitter, where they will be working on “several key initiatives.”

As of last September, Posterous told us it had 15 million monthly unique visitors, with three million of its users accessing its products solely through email.

Posterous had raised $10 million from backers included Redpoint Ventures, Trinity Ventures, Jafco Ventures and Y Combinator.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work