Twitter Raising Huge Huge Cash – Close To 100 Million, @ 1 Billion Valuation

Twitter is raising somewhere close to $100 million in its newest fundraising activity. This is almost double than what was being expected. WSJ reports that as many seven investors are throwing in cash. Here are the details:

1). Investors are valuing Twitter at $1 billion and pooling in some $100 million.

2). New investors –

-T. Rowe Price (mutual fund biggie)

-Insight Venture Partners (private-equity firm) – rumoured to be the biggest investor

Though there have been reports flowing around about the Twitter’s revenue model but the company is yet to generate any real revenue. In two other rounds of fundraising earlier, Twitter raised close to $55 million and reports suggest that it still has close to $30 million left in bank. It is worth noting here that earlier this year Twitter was valued at $250 by investors, so (virtually though) it has quadrupled in the eyes of investors in just a period of some 7 months.  The service currently has 25 million users around the globe.

Follow-Up

New Broken By WSJ : Breaking News: Twitter to Raise $100 Million From Insight, T. Rowe Price, Other Investors

TechCrunch : More Investors Pile Into Twitter’s Funding Round, Now Reportedly Close To $100 Million by Erick Schonfeld

ZDNET : What does staid T. Rowe Price see in Twitter? by Larry Dignan

Bits (NY Times Blog) : Twitter to Become Tech’s Newest $1 Billion Company by Brad Stone

PEHUB : Which Is Worth More, Twitter Or LinkedIn? by Deborah Gage

tinycomb : Twitter Raising Gagggle Of Green, Still Has 100 Pound Gorilla In The Room by Jason Wilk