Market Overview

Investors Push Twitter Worth to $8.4B


Will @wallstreet save us a seat at the dinner table? #8billion, #IPO2012

The Wall Street Journal reported Tuesday that Twitter has secured multiple investors for a rumored $800 million including a "significant round of funding" from venture capitalist Yuri Milner and Digital Sky Technologies. Milner has also invested in other social media companies such as Facebook, Zynga, and Groupon.

Twitter released a statement from Mr. Milner in which he called Twitter "one of the few companies that has truly changed the world." He added that "Twitter's astonishing growth is a testament to how important it is becoming to more people every day, and why we couldn't pass up the chance to be a bigger part of its future."

Twitter has been busy in the past year by registering over 200 million tweets a days, according to a recent blog post. Twitter's worth has also doubled from a December 2010 valuation of $3.7 billion. The company is expected to generate $150 million in ad revenue this year, according to research firm eMarketer.

Inevitable IPO

With LinkedIn's (NYSE: LNKD) IPO almost three months old and Zynga and Groupon looking to go public soon, is Twitter the next to follow? For now, it looks as though Twitter will not be blogging about its upcoming IPO, but rather how the company is going to spend these newly acquired funds.

According to a Twitter blog, Twitter plans to "use these resources to aggressively innovate, hire more great people and invest in international expansion."

Over the past year, Twitter has gone from 250 people to more than 600 in addition to the expansion of salespeople in the U.S. and employees in the U.K. As for international expansion, Twitter has been translated into Dutch and Indonesian, allowing for people all over the world to tweet in 11 languages. Twitter's future plans include full translations of Filipino and Malay.

Posted-In: Digital Sky Technologies Dutch eMarketer Facebook Filipino GrouponNews Tech Best of Benzinga


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