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Local Tech Wire, AP
RESEARCH TRIANGLE PARK, N.C. – Is a billion dollar company? Its valuation may be just that.
Twitter confirmed Friday that it has raised another large amount of money to finance its operations until its management figures out how to make money from one of the Internet’s hottest communication tools.
CEO Evan Williams didn’t specify a dollar figure..
“There’s a lot of talk today about our financing,” Williams wrote in his blog Friday. “A few hours ago we closed a significant round of funding with a group of investment firms that we’re excited to publicly thank: Insight Venture Partners, T. Rowe Price, Institutional Venture Partners, Spark Capital and Benchmark Capital.
“It was important to us that we find investment partners who share our vision for building a company of enduring value. Twitter’s journey has just begun and we are committed to building the best product, technology, and company possible. I’m proud of the team we’ve built so far and I’m confident in the future we’ll build together.”
Both The New York Times and The Wall Street Journal have reported that Twitter planned to get $100 million in a deal valuing the 3-year-old company at $1 billion – even though it has no meaningful revenue.
Twitter has attracted 54 million users, who use the service to share their thoughts, Web links and other information in messages no longer than 140 characters. Before the most recent round of investment, the San Francisco-based company had already raised $55 million.
