Twitter nets $100M, valuation soaring
Microblogging company Twitter confirmed that it raised additional capital last week in a funding round led by T. Rowe Price, Insight Venture Partners, Spark Capital and Institutional Venture Partners rumored to be worth $100 million. The company did not disclose the amount of the funding nor the valuation it received however.
The Wall Street Journal and TechCrunch said the round valued the company at around $1 billion, a significant increase from the $255 million valuation it was assigned in its last funding round, which took place earlier this year.
Twitter is still yet to generate revenue, but its user base is growing rapidly. Many different ideas for how the service will earn money have been floated, including running targeted ads. But it still remains to be seen if Twitter can provide a return on the significant investments that it has received.