MUMBAI: Microblogging site Twitter Inc is said to be raising funding that values it at about $7 billion. In this connection, the San Francisco-based company is believed to be in talks with investors to receive hundreds of millions of dollars.
Twitter‘s worth has almost doubled since December last when it received a $200 million investment led by Kleiner Perkins Caufield & Byers that valued the company at $3.7 billion.
The valuation of Twitter Inc was pegged at about $1 billion in 2009 whereas the company’s current worth was $6.8 billion.
Instead of joining other social-media companies in filing for an initial public offering, Twitter is raising funds from private investors.
In June, Twitter co-founder Biz Stone had announced that he‘s stepping away from day-to-day duties at the company to join Evan Williams, another co-founder, in a new venture.
Soon after LinkedIn Corp, a professional networking site, went public in May, Groupon Inc, the biggest daily-deal site, as well as Zynga Inc, the top developer of Facebook games, have both filed for IPOs.
