Twitter confirmed Tuesday that it has raised a “significant round of funding led by the venture firm DST Global, with the participation of several of our existing investors.”
The announcement comes just weeks after rumors suggested that Twitter was in the process of raising $800 million in funding at an $8 billion valuation.
In a post on the company’s blog, Twitter talks about expanding the company’s reach with the new funding. “We will use these resources to aggressively innovate, hire more great people and invest in international expansion,” the company says.
The company, however, does not disclose the size of the round, its current valuation or whether it will cash out early employees and investors, as suggested by earlier reports. If the previously reported $800 million figure is accurate, Twitter has raised more than $1.15 billion in funding to date.
The round’s lead investor, Digital Sky Technologies, is a prominent late stage venture firm with sizable stakes in Facebook, Groupon and Zynga.
A Twitter spokesperson declined to comment further on the funding round.
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Posted on Mon, 01 Aug 2011 17:03:00 +0000 at http://feeds.mashable.com/~r/Mashable/~3/XMrZOjofsRc/
Comments: http://mashable.com/2011/08/01/twitter-dst-funding/#comments
The announcement comes just weeks after rumors suggested that Twitter was in the process of raising $800 million in funding at an $8 billion valuation.
In a post on the company’s blog, Twitter talks about expanding the company’s reach with the new funding. “We will use these resources to aggressively innovate, hire more great people and invest in international expansion,” the company says.
The company, however, does not disclose the size of the round, its current valuation or whether it will cash out early employees and investors, as suggested by earlier reports. If the previously reported $800 million figure is accurate, Twitter has raised more than $1.15 billion in funding to date.
The round’s lead investor, Digital Sky Technologies, is a prominent late stage venture firm with sizable stakes in Facebook, Groupon and Zynga.
A Twitter spokesperson declined to comment further on the funding round.
More About: DST, funding, twitterFor more Business & Marketing coverage:Follow Mashable Business & Marketing on TwitterBecome a Fan on FacebookSubscribe to the Business & Marketing channelDownload our free apps for Android, Mac, iPhone and iPad
Posted on Mon, 01 Aug 2011 17:03:00 +0000 at http://feeds.mashable.com/~r/Mashable/~3/XMrZOjofsRc/
Comments: http://mashable.com/2011/08/01/twitter-dst-funding/#comments