Business News
Twitter value put at 7 billion dollars after financing - reports
Jul 6, 2011, 11:14 GMT
New York - New financing deals could boost the value of microblogging provider Twitter to 7 billion dollars, almost double previous estimates of its worth, media reports in New York said.
Independently of each other, the Wall Street Journal and the financial wire Bloomberg each cited sources close to the situation which put the potential value of Twitter at that figure.
The Wall Street journal noted that after a 200 million dollar financing deal in December 2010 with the venture-capital company Kleiner Perkins Caufiled & Byers, Twitter was estimated to be worth 3.7 billion dollars.
According to the latest reports, Twitter is now starting out on talks with new potential private investors.
The Wall Street Journal said Twitter's aim is to gain more time for it to establish an advertising-based business which is still not yet developed when compared with its competitors.
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