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Twitter to raise $100 mln in new funding

Submitted by on 19 December, 2020 – 4:32 pm
Twitter is about to raise $ 100 million in new funds in a deal that values the hot microblogging service for one billion dollars, The Wall Street Journal reported Thursday.

The newspaper, citing “people familiar with the deal,” said the new funding would come from seven investors including mutual fund giant T. Rowe Price and private equity firm Insight Venture Partners.

The newspaper said other investors are venture capital firms Spark Capital and Institutional Venture Partners, who have previously invested in Twitter.

He said investors are valuing of Twitter, which has yet to generate revenue, at about one billion dollars.

Twitter was worth about $ 255 million in the company? S the last round of investment earlier this year, said the newspaper, which was reportedly raised about $ 35 million.

The $ 100 million investment is approximately twice that Twitter was reportedly expected to increase in this latest round of fundraising, its third and largest, the paper said.

Twitter, which allows users to pepper each other with messages of 140 characters or less, has grown rapidly in popularity since it was launched in August 2006 but has been unable so far to make money.

Co-founder Biz Stone Twitter has outlined several possible ways to generate revenue and noted that the company was in no hurry.

“We are patient investors and the time to experiment with income-generating ideas and products,” he told AFP earlier this year.

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