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Twitter to secure $100m new capital
TWITTER, the micro-blogging website, is closing in on a deal that would give it access to $100m (£62m) in new venture capital.
The cash injection, understood to be coming from investment houses T. Rowe Price and Insight Venture Partners, would value the website at $1bn – more than triple the worth placed on the company in February.
Firms which already invest in Twitter, such as Institutional Venture Partners and Spark Capital are also expected to take part.
Twitter chief executive Evan Williams and co-founder Biz Stone have said they have no interest in selling up and the latest valuation will make it harder for another internet giant to launch a bid. Twitter rejected a $500m bid from Facebook last year.