Any company that has yet to operate on a consistent business model is still a start up :-). But in twitter&#x27;s case that is stretching it. Both ad funded and public I&#x27;d say they are a &#x27;small cap company&#x27; rather than a startup.<p>That said, it&#x27;s clear they are struggling to stay alive and that <i>is</i> a trait of many start ups.