The Wall Street Journal reports Tuesday that Twitter is raising more funds from private investors that would value the company as high as $7 billion.
The valuation comes just seven months after Twitter raised $200 million from other private investors that valued the internet messaging company at $3.7 billion.
The report notes Twitter hopes to build an ad system that will eventually generate billions of dollars annually. In addition Twitter is currently on track to generate $150 million from ad revenue this year.
Additionally, the paper claims that Twitter is in no hurry to file for an initial public offering.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
