Thursday, September 17, 2009

Twitter Raising Money At $1 BILLION Valuation!

Huge: Twitter will raise around $50 million at a $1 billion valuation, TechCrunch's Michael Arrington reports, citing "multiple sources." Twitter CEO Evan Williams reportedly disclosed the round at a recent employee meeting.

Twitter raised $35 million earlier this year, led by Benchmark Capital and Institutional Venture Partners.

The company has no material revenue at the moment. But it has huge plans for growth. And when you can raise money at a $1 billion valuation, you do it.