Latest fundraising values Twitter at $3b

Dylan Bushell-Embling
18/11/2010
News
Daily News

Twitter is reportedly planning a new funding round that would value the social networking site at over $3 billion.

The company is in talks with investors over the financing, and has drawn keen interest from a variety of firms, multiple sources told Silicon Valley blogTechCrunch.

Twitter is apparently eager to raise more than the $100 million the company took during its most recent fundraising a year ago. It has collected $160 million so far.

Russian investment firm DST Global - which has stakes in social networking companies Facebook and Zynga - is eager to lead the round, the sources said.

DST Global is the international investment arm of Digital Sky Technologies, owner of the Mail.ru group.

Secondary trading for Twitter shares issued to employees have been at a company valuation of at least $1.57 billion, TechCrunchsaid.

Twitter stepped its sale of tweet streams, granting start-up Gnip permission to sell its data feeds to developers.

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