Twitter now valued at $8 billion


Thumbnail image for twitter-logo.jpgTwitter’s fortunes continue to grow, after the latest round of valuations for the microblogging service see it now worth $8 billion (circa £4.9 billion).

This follows news that Russian investment firm DST paid $400 million for a 5% stake in the celeb-favoured web service.

With Twitter looking to “aggresssively innovate”, it is no thought that no public listing will be made for Twitter until at least 2013.

“We’ve come very far in a short time,” reads a statement on the Twitter corporate blog.

“Now we have an opportunity to expand Twitter’s reach with a significant round of funding led by the venture firm DST Global, with the participation of several of our existing investors.

“We will use these resources to aggressively innovate, hire more great people and invest in international expansion.”

Despite the growth of its influence, a powerful, large user-base and continued investment however, Twitter has revenues of just around $130 million.

Via: FT

Gerald Lynch
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