Feeds

Serial Web2.0 investor pumps Twitter valuation to $8bn

$57m per character

Remote control for virtualized desktops

Twitter closed a "significant round of funding" yesterday, with lots of help from the Russian venture outfit that has already pumped large sums of cash into Facebook, Groupon et al.

The micro-blogging site said that serial Web2.0 investor Digital Sky Technologies Global (DST Global) led the Twitter funding round, but didn't reveal how much money was involved.

According to Kara Swisher at All Things Digital, DST stacked up a large part of the total $800m cash pile that Twitter aims to raise. An insider told Bloomberg that DST Global's contribution amounted to $400m, but the company declined to confirm this, although it did confirm the deal. Half of that money is understood to have been dished out to staff and shareholders at the privately-held company.

The funding round reportedly tagged Twitter's valuation at $8bn.

Twitter, which has more than doubled its employee headcount to 600 people in the past 12 months, said it was now generating over 200 million tweets per day on the service.

"We’ve come very far in a short time. Now we have an opportunity to expand Twitter’s reach with a significant round of funding led by the venture firm DST Global, with the participation of several of our existing investors," said the company.

"We will use these resources to aggressively innovate, hire more great people and invest in international expansion." ®

Top 5 reasons to deploy VMware with Tegile

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
5 critical considerations for enterprise cloud backup
Key considerations when evaluating cloud backup solutions to ensure adequate protection security and availability of enterprise data.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.