CoTweet heading to Bay Area after $1.1 million round, rumors of Twitter “acquisition target”

After announcing $1.1 million in venture capital investments, once Central Pennsylvania-based CoTweet is moving to San Francisco, according to the Wall Street Journal.

The company, which develops a web-based application for Twitter that allows businesses to assign multiple team members to control commercial accounts, received funding from West Conshohocken-based First Round Capital and a handful of other non-Philly firms. [Full Disclosure: Technically Philly uses CoTweet for forward-dated Twitter posts]

According to two job openings recently added to the company’s internal job board, the company is headed for the SoMa neighborhood of downtown San Francisco, an area well-known for its roots in the dot com boom.

CoTweet executives are in the process of packing their bags, according to several messages posted to Twitter from company co-founders.

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