Last week we reported that Twitter has plans to press for funds at a $1 Billion valuation. This is now no longer a rumor with WSJ confirming the case.
It was reported that “investors are valuing Twitter, which has yet to generate revenue or finalize its plans for making money, at about $1 billion.
A person familiar with the deal said investors are applying a similar value to Twitter as that applied to Facebook…”
It was just in February that Twitter was valued at $250 million, raising $35 million in a Series C round of funding.
Shortly after 7 months, it is now valued at a $1 billion, raising $100 million and is comparable to Facebook which was valued at $6.5 billion back in July.
With sufficient funds in the bank, we anticipate how Twitter is going to put these resources to good use.
Oh and let’s hope there is less fail whale and bugs too 🙂
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