Share

Rising Twitter valued at $8bn: report

New York - The US micro-blogging website Twitter is gaining value and is now worth an estimated $8bn, the New York Times reported on Friday.

The newspaper, citing two people briefed on the matter, said the popular website is in the process of raising $400m in a deal that has provided the latest estimation of its value.

The Wall Street Journal had reported a similar deal on Tuesday, putting the company's valuation at up to $7bn.

The Times cited one of its sources as saying that the financing round will be led by DST Global, the investment firm headed by Russian billionaire Yuri Milner, and that previous investors, including the venture capital firm Kleiner Perkins Caufield & Byers, will also participate.

In December, Twitter received an injection of $200m from investors to help fuel its growth, reportedly giving the San Francisco-based company a valuation of $3.7bn.

That round of financing was led by Kleiner Perkins Caufield & Byers.

Twitter has fended off several buyers and has repeatedly said it is not considering going public.

Founded in 2006, the company recently announced that Twitter users are sending 200 million tweets a day, up from 65 million a year ago.

A recent study by the Pew Research Center said 13% of online US adults use Twitter, up from 8% in November 2010. The site has more than 200 million total users.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.0%
Rand - Pound
23.91
-0.0%
Rand - Euro
20.41
+0.1%
Rand - Aus dollar
12.33
+0.1%
Rand - Yen
0.13
-0.0%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders