Last summer we ran an article on new micro-blogging website, Twitter, and its growth in its first two years of operation.

Well, since then it seems that Twitter has gone from strength to strength. The company have just recently turned down a half billion dollar acquisition offer from Facebook and are now looking at dipping back into the venture capital market.

They’ve signed a term sheet with at least one venture fund to raise a new round at a $250 million valuation. Whilst it is unclear how much they’re raising it is widely thought to be more than the $20 million in capital they’ve taken in over two previous rounds.

Twitter’s stock has increased further in the wake of new celebrity interest. British institution, Stephen Fry, chatted to reinstated BBC host Jonathan Ross about Twitter on his prime time Friday night show last week.

With luminaries and celebrities across the globe increasingly using Twitter to engage with their audience, it would seem that the sky’s the limit for this company that blossomed from a small San Fransisco R&D project.

You can follow the adventures of HeadRed through my own garbled tweets at http://twitter.com/adrianbevan