Twitter Raises $200M In Funding At $3.7B Valuation
For most people with a financial interest in Twitter, these are going to be some happy holidays indeed. The company’s confirmed a new round of funding, and reports indicate that it raised $200 million at a valuation of a stunning $3.7 billion.
Dick Costolo confirmed on the Twitter Blog that Kleiner Perkins Caufield Byers was, as had been rumored, the leading force behind this round. Then other "existing investors" participated, too, according to Twitter’s new CEO.
Unfortunately, the info regarding dollar amounts is a little less solid – Twitter hasn’t confirmed anything yet – but Kara Swisher, who’s almost always correct about these matters, was the first to mention both $200 million and $3.7 billion.
Those figures represent quite an accomplishment on the company’s part. It’s not too easy to find $200 million lying around, after all, and in September of last year, investors pegged Twitter’s value at $1 billion. So the site’s increased its perceived worth by 270 percent in 14 months.
Now let’s move on to one other subject before wrapping things up. Costolo wrote, "[W]e’ve added two new members to Twitter’s board of directors. Please join us in welcoming Mike McCue and David Rosenblatt. The experience these new directors bring to Twitter, along with this renewed investment, will help us continue to grow as a company and business."
McCue’s served as the CEO of Flipboard, the CEO of Tellme, and a VP of technology at Netscape over the years. Rosenblatt’s been the chairman at Group Commerce, president of display advertising at Google, and CEO of DoubleClick.