NEW YORK (

TheStreet

) -- Twitter is rewriting that old saying about a penny for your thoughts. It turns out that our most mundane and irrelevant musings are worth $1 billion.

That's the value placed on Twitter after a new round of funding that will infuse $100 million into the social media, micro-blogging Internet revolutionizing business with pretty much no real sources of revenue, according to

this report

in the

New York Times

(NYT) - Get Report

.

The new money is coming from

Insight Venture Partners

,

T. Rowe Price

(TROW) - Get Report

, and Twitter's existing backers

Spark Capital

and

Institutional Venture Partners

, who according to the

New York Times,

may be emboldened in their investment by reports that the likes of

Microsoft

(MSFT) - Get Report

,

Google

(GOOG) - Get Report

and

Facebook

have all expressed interest in buying Twitter.

They are betting that there is a way to monetize the millions of tweeters who share their sundry thoughts in 140 characters or less throughout each day.

There is no disputing that Twitter and the new Twitterati are a phenomenon. I'm tweating this very post to

my Twitter account.

TheStreet also tweets throughout the day at

TheStreet_news.

I can understand the excitement since Twitter burst on the scene and became a big hit so fast. It reminds me of

YouTube

, which Google infamously bought for $1.65 billion in 2006.

Oh wait, Google still hasn't figured out how to make good coin from user-generated videos.

Will Twitter be different?

That's the billion-dollar question.

Let's tweet about it.

--Written by Glenn Hall in New York.

Glenn Hall is the New York-based Editor in Chief of

TheStreet.com

. Previously, he served as deputy editor and chief innovation officer at

The Orange County Register

and as a news manager at

Bloomberg News

in Frankfurt, Amsterdam and Washington, D.C. As a reporter, he covered business and financial markets, worked in both print and television in the U.S. and Europe, and conducted in-depth investigative coverage at

The Journal-Gazette

in Fort Wayne, Ind. His work also has been published in a variety of newspapers including

The Wall Street Journal

,

The New York Times

and

International Herald Tribune

. Hall received a bachelor's degree in journalism and political science from The Ohio State University and a certificate in project and program management from Boston University.