Microblogging communication tool Twitter is reported to have scored itself a whopping $15m in second round funding.

This brings the company’s total funding to $20m and apparently lends it a pre-money valuation of around $80m.

This sounds a bit of a virtual valuation to us, as we can’t see where Twitter’s business model is or how anyone can monetise the service. Then again it’s only a matter of time before someone mentions advertising in the same breath.

It’s not unreasonable to expect all eyes to be on Google at this point, which last year snapped up a similar microblog called Jaiku. And if the Big G is interested, there must be some way to make cash out of the service. Maybe.