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Friday, July 8, 2011

TECH WORLD: Rising Twitter valued at $8 bln: report!

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A file photograph of Twitter headquarters in San Francisco - via Commons
A file photograph of Twitter headquarters in San Francisco - via Commons.

American micro-blogging website Twitter is gaining value and is now worth an estimated $8 billion, the New York Times has reported.
The newspaper, citing two people briefed on the matter, said the popular website is in the process of raising $400 million in a deal that has provided the latest estimation of its value.
The Wall Street Journal had reported a similar deal on Tuesday, putting the company's valuation at up to $7 billion.
The Times cited one of its sources as saying that the financing round will be led by DST Global, the investment firm headed by Russian billionaire Yuri Milner, and that previous investors, including the venture capital firm Kleiner Perkins Caufield & Byers, will also participate.
In December, Twitter received an injection of $200 million from investors to help fuel its growth, reportedly giving the San Francisco-based company a valuation of $3.7 billion.

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