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Twitter confirms new round of funding

Started by sajiv, Sep 26, 2009, 03:19 PM

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Twitter confirms new round of funding

Yes, Twitter's megacash infusion is real. CEO Evan Williams confirmed on the company blog Friday that Twitter has raised a new round of investment from Insight Venture Partners, T. Rowe Price, and existing investors Institutional Venture Partners, Spark Capital, and Benchmark Capital.

Williams says it's "a significant round." He didn't say just how close it was to the roughly $100 million that The Wall Street Journal reported Thursday. Nor did he say whether this values Twitter at $1 billion.

"It was important to us that we find investment partners who share our vision for building a company of enduring value," Williams wrote in the blog post. "Twitter's journey has just begun, and we are committed to building the best product, technology, and company possible. I'm proud of the team we've built so far, and I'm confident in the future we'll build together."

Before the end of the year, Twitter is expected to start rolling out paid corporate accounts to businesses that use the service for marketing, promotion, and customer service.

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