Twitter just received 'a significant round of funding,' stated the company's blog.
The funding was led by Russian venture firm DST Global and drew participation from several of Twitter's existing investors.
The company didn't disclose any figures, but tech blog AllThingsD reported that the deal raised $800 million and valued the company at $8 billion. The company will reportedly use $400 million of the funds to cash out current investors and employees.
That is, $400 million of the deal is essentially the transferring of Twitter equity between parties. The remaining $400 million will be infused to the operations of Twitter, according to AllThingsD's report.
Twitter said it will use the money to "aggressively innovate, hire more great people and invest in international expansion."
The company also took the opportunity to tout its tremendous growth.
"Just a year ago, we delivered 65 million Tweets a day. Today, we generate over 200 million Tweets per day. One year ago, there were approximately 150,000 registered Twitter apps. Now, there are more than one million that connect to Twitter. And our team has grown from 250 people to more than 600 in the past 12 months," stated its blog post.
However, despite Twitter's impressive growth and sky-high valuation, it's yet to become a money-generating powerhouse.
The Wall Street Journal reported that Twitter posted revenue of $45 million in 2010, citing unnamed sources. In 2011, revenue is estimated to be between $100 million and $110 million, said the sources.
It's unknown how much of a profit Twitter makes. However, financial Web site Business Insider asserts that Twitter is "obscenely profitable" in the following analysis.