Twitter Prepared To Raise $800 Million For Previous Investors To Cash Out

Posted Jul 20, 2011

Twitter is close to raising $800 million in funding. About $400 million of this round would be used to allow investors and employees cash out on their stock. This transaction may be completed within the next two weeks according to sources with AllThingsD.

This round of funding will put Twitter at an $8 billion valuation. This is more than double what Twitter was worth in October 2010 when they raised $200 million from Kleiner Perkins and several other investors. The investors in this round is expected to be DST Global and J.P. Morgan.