Twitter Inc., the microblogging site that lets users post 140-character messages, is raising funding that values the startup at about $7 billion, said a person with knowledge of the matter.
The San Francisco-based company is in talks with investors to receive hundreds of millions of dollars, said the person, who asked not to be named because the discussions were private.
Twitter’s worth has almost doubled since December, when it received a $200 million investment led by Kleiner Perkins Caufield & Byers that valued the company at $3.7 billion. The startup was pegged at about $1 billion in 2009, a person familiar with the matter said at the time. SharesPost Inc., an exchange for shares of closely held companies, has assessed Twitter’s current worth at $6.8 billion.
Full Story: Twitter is said to be valued at $7 billion in new round of venture funding