Twitter Appears Set to Raise $100 Million, Valuing It at $1 Billion
Posted in: Miscellaneous at 26/09/2009 12:55
Twitter has trained people to compress their thoughts into 140 characters and given a public stage to both dissidents in Iran and voluble stars like Shaquille O'Neal.
Now the start-up appears to have chalked up another achievement. Twitter, which has no discernible revenue, is set to raise about $100 million of new funding that would value the company at around $1 billion, a person briefed on the company's plans said Thursday.
Twitter close to securing $100m cash injection that will see value quadruple
Dotcom darling Twitter is close to securing a cash injection of $100m (£62m), with executives due to complete a surprise funding round that would see the total value of the much-hyped Californian company quadruple to an estimated $1bn.
More than half a dozen investors - including some existing backers - are understood to have lined up to pump even more cash into the three-year-old San Francisco-based startup, despite the fact that it has yet to make any money.
Twitter said to be near a deal for $100 million in venture funding
Twitter may be close to locking up a deal for $100 million in new venture funding, a sum that would nearly triple the total venture capital poured into the 3-year-old messaging start-up.
Twitter closes in on $100m of new funding
Twitter, the fast-growing microblogging site, is close to a deal to secure as much as $100 million of new funding, valuing the company at $1 billion.
Up to seven investors are joining a third round of funding for the site which has exploded in popularity with an estimated 45 million regular monthly visitors.