Twitter raising capital at $1 Billion valuation: Report

16 September 2009 @ 05:30 pm EDT

Popular micro-blogging site, Twitter, is raising around $50 million at a $1 billion valuation, TechCrunch's Michael Arrington reports, citing "multiple sources."


Biz Stone Twitter
Twitter co-founder Biz Stone speaks at the Fortune Brainstorm Tech 2009 in Pasadena, California July 23, 2009.
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According to the report, Twitter CEO Evan Williams disclosed the information at a recent employee meeting.

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

Since the company is private, it offers no material revenue for review, but it does seem this fast-growing Web 2.0 company has big plans that require large sums of capital.

Watch this space.

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