Twitter Confirms Funding; Reportedly $100M at $1B Valuation

Authored by Mark Hefflinger on September 28, 2009 - 6:00am.

San Francisco - Microblogging service Twitter on Friday confirmed that it has landed a "significant round of funding," which The Wall Street Journal reported was $100 million at a valuation of about $1 billion -- four times its valuation from earlier this year. The company said that investors included 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," wrote CEO Evan Williams.

Twitter has yet to generate substantial revenue, but is expected to have 25 million users by the end of this year.

http://snipurl.com/s6uit (WSJ)