Lifelogging. Why Posterous isn't the new Twitter - but it might be the future of blogging. Over the last few months there have been many stories in both mainstream and social media chronicling the decline of blogging.
Fewer people are apparently starting blogs, many blogs are not being updated and less people are reading them. There is a fairly contentious debate as to why blogging has become less popular, but many commentators cite the growth of micro blogging or Twitter, as the most significant reason for its downturn. I think they are right too. There's No Way Twitter Is Worth $250 Million Today. See Also: Twitter Is Worth A Lot More Than $250 Million In the Web 2.0 space, it would be extremely difficult to find a more-successful, faster-growing service than Twitter, who has carved out a significant niche for itself in the microupdates space, as people from around the world tell you what they're doing, right now, even if you didn't ask.
The service has an estimated 6 million active users, and recently surpassed the 1 billion "Tweet" mark, if you count all updates. But the company hasn't yet made a buck in traditional revenues. (Although I can't claim to be privy to their books, and they just might have recognized something somewhere) Word comes this weekend, via TechCrunch and others, that Twitter is embarking on a new funding round that could see the company valued at $250 million. And while I already made the case that Twitter will get its funding, and could end up being worth a lot more than that number in short order, it is pretty easy to also poke holes in that analysis.