Twitter Rival ‘T2’ Raises $1.1 Million in Funding From High-Profile Investors, Including Google Staff
- T2, a new social media company seeking to take over Twitter’s space has raised about $1.1 million in funding
- The company is built by a former Twitter employee, Gabor Cselle and backed by a Google executive
- The company seeks to dethrone Twitter following a wave of chaos at the microblogging site
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Riding on the current wave of woes at Twitter, a start-up hoping to disrupt the company’s dominance has raised $1.1 million in funding.
T2, the tentative name for the project led by Gabor Cselle, a former Twitter employee, has closed the funding raised by a group of high-profile angel investors including Bradly Horowitz, an experienced Google product leader, Rich Miner and former Wikipedia CEO, Katherine Maher.
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Big wigs backing new social medial company
Cselle has established and sold businesses to Twitter and Google and spent years at both firms building products, according to a Techcrunch report.
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Horowitz, a Google executive has also led and built a raft of products including the defunct Google+, and invested in Slack, the communication and workspace platform.
The name T2 is a working title for the company seeking to upstage Twitter which is currently enmeshed in a number of woes since Elon Musk took over the company in October 2022, after acquiring it for $44 million.
How the T2 idea started
The idea for T2 started following a series of tweets by Cselle where he mulled ideas on opportunities Twitter missed since Musk’s takeover.
The tweets eventually became what he built on and launched T2 which currently has a handful of users
Cselle said the idea for T2 is to create a familiar place that is very close to the original
The overall aim is to encourage the use of T2 by making it as simple as possible, directing it to tap familiarity where people can cross-breed conversations and connections in a consumer society.
Other Twitter rivals seeking to take over the space
He said:
“We have a product and we are going as quickly as possible.”
The new social media company may be one of the first first to close funding as tech startups complain that investors are shying away in the wake of tech stocks tumbling globally.
The new company is seeking to dethrone Twitter and seeking to leverage the current chaos at the microblogging site.
There are other startups such as Spill, founded by former Twitter employees, which are also looking to raise about $1.3 million, and Post looking to close $250 million in funding, a report by TechCrunch said.
Top 6 alternative sites to Twitter as users abandon site over new policies
Recall that Legit.ng reported that Twitter has been engulfed in crisis since Elon Musk took over the company in October after a $44 billion deal. He has cut the firm's workforce in half, introduced various reforms and changes, reactivated banned accounts, and, recently, suspended journalists who wrote articles about him.
And for those who have seen enough of Musk's troubles at Twitter, there are alternatives to the microblogging site that Jack Dorsey founded in 2006.
Mastodon has become one of the top destination sites among people curious about life. It has similarities with Twitter, but with a significant distinction. Its type of post is called 'toots.'
Source: Legit.ng
