by Michael Arrington on September 16, 2009
Fast growing startup Twitter will soon be joining a select group of startups with private venture round valuations of $1 billion, we’ve heard from multiple sources. CEO Evan Williams disclosed the round to employees at a recent all hands meeting.
The company will raise around $50 million, we’ve heard, although the final amount of the raise is apparently not yet locked down.
Twitter raised $35+ million earlier this year in a round led by Benchmark Capital and Institutional Venture Partners. That round valued the company at $250 million.
The company has raised a total of around $55 million
to date, and sources tell us they have approximately $30 million left in the bank.
Update: A source tells us that New York based Insight Venture Partners is the primary investor in this round.
| Website: | twitter.com |
| Location: | San Francisco, California, United States |
| Founded: | March 21, 2006 |
| Funding: | $55M |
Twitter, founded by Jack Dorsey, Biz Stone, and Evan Williams in March 2006… Learn More