Twitter Is Now Worth $3.7 Billion After Raising $200 Million
Twitter, the micro-blogging service that about 8% of American adults in the U.S. have used, has raised $200 million in funding. This gives the company a $3.7 billion valuation. Kleiner Perkins was the lead investor in this round according to an AllThingsD source.
Mike McCue and David Rosenblatt have joined the Twitter board of directors as well. They join recently hired board director Peter Currie. In the last 12 months, about 25 billion tweets have been sent out and the company now has over 100 million registered accounts. Twitter now has about 350 employees. It is rumored that Kleiner Perkins was very aggressive in this round in order to keep out Russian investment company Digital Sky Technologies.