New Financing Values Twitter as High as $7 Billion
Even as Internet companies such as Zynga Inc. and Groupon Inc. file to go public, Twitter Inc. is taking a different route: It is continuing to tap private investors.
The fast-growing Internet messaging service is currently in discussions to raise a new round of private financing, said people familiar with the matter. The move is set to raise hundreds of millions of dollars in a round valuing Twitter as high as $7 billion, said one of the people. It is unclear which investors are participating in the new round.
The talks come seven months after Twitter, which lets people broadcast and read messages called “tweets,” raised $200 million in a financing led by venture-capital firm Kleiner Perkins Caufield & Byers that valued the company at $3.7 billion.