Twitter, the online microblogging service, has been valued at $3.7billion up $1billion just a year ago - and twice the value of the New York Times.
The company released its latest valuation after it raised another $200million so it can keep growing without having to float itself on the stock market.
The deal puts the company some way off Facebook, the social networking phenomenon, which was valued at $45billion recently.
Kleiner Perkins Caufield & Byers, one of Silicon Valley's best-known venture capital firms, is leading the investment, which was announced yesterday.
Scroll down for a simple video on how to use Twitter
Twitter, which clocked 190 million users last month, also added two successful entrepreneurs, Mike McCue and David Rosenblatt, to its board of directors.
The moves come two months after the four-year-old company handed the job of chief executive to Dick Costolo, the architect of its new advertising efforts, a sign that making money is a priority for the service.
Twitter's association with Kleiner Perkins is likely to add to the intrigue about the moneymaking potential of a service that each day blasts out more than 65 million short messages, or 'tweets', limited to 140 characters.
Kleiner Perkins' past Internet bets include investments in online search leader Google, now worth about $190billion, and leading Web merchant Amazon.com, now worth about $80billion.
The venture capital firm obviously thinks highly of Twitter, which started in 2007 and has now raised nearly $360million since then.
With so much cash being supplied by investors, Twitter's management has been able to focus on hiring more workers and adding more features instead of worrying about how to make money.
The San Francisco-based company now employs about 350 people, more than tripling its payroll since the beginning of the year.
Most of Twitter's revenue so far has flowed from deals that have given Google, Microsoft's Bing and other Internet services better access to its messaging stream.
Over the past eight months, Twitter has gradually allowed advertisements to appear amid its service's chatter.
Its executives have repeatedly said they're in no hurry to take the company public and selling to a larger company remains a possibility, too.
The newest directors on Twitter's nine-member board both have experience with the sell option.
Mr McCue sold TellMe, a company specializing in voice recognition software, to Microsoft for $800 million in 2007.
And Mr Rosenblatt was CEO of the online advertising service DoubleClick when it was sold to Google for $3.2 billion in 2008.
Twitter's current CEO, Mr Costolo, and former CEO, co-founder Evan Williams, also previously sold startups to Google.
Mr Costolo tweeted yesterday that funding will 'help grow Twitter to infinity and beyond'.
Twitter, the online microblogging service, has been valued at $3.7billion up $1billion just a year ago - and twice the value of the New York Times.
The company released its latest valuation after it raised another $200million so it can keep growing without having to float itself on the stock market.
The deal puts the company some way off Facebook, the social networking phenomenon, which was valued at $45billion recently.
Kleiner Perkins Caufield & Byers, one of Silicon Valley's best-known venture capital firms, is leading the investment, which was announced yesterday.
Scroll down for a simple video on how to use Twitter
Flying high: Twitter has had $360million investment since is began in 2006 - and is now valued at £3.7billion
Flying high: Twitter has had $360million investment since is began in 2006 - and is now valued at £3.7billion
TWITTER BY NUMBERS
2006 - The San Francisco-based microblogging site is founded
190 million - number of users
140 - characters allowed in 'tweets'
65 million - average tweets a day
$360million - amount of outsider investment in four year
7,365,442 - number of followers Lady Gaga, the most popular tweeter, has
$200million - latest investment
$1billion - value of company last year
Twitter, which clocked 190 million users last month, also added two successful entrepreneurs, Mike McCue and David Rosenblatt, to its board of directors.
The moves come two months after the four-year-old company handed the job of chief executive to Dick Costolo, the architect of its new advertising efforts, a sign that making money is a priority for the service.
Twitter's association with Kleiner Perkins is likely to add to the intrigue about the moneymaking potential of a service that each day blasts out more than 65 million short messages, or 'tweets', limited to 140 characters.
Kleiner Perkins' past Internet bets include investments in online search leader Google, now worth about $190billion, and leading Web merchant Amazon.com, now worth about $80billion.
The venture capital firm obviously thinks highly of Twitter, which started in 2007 and has now raised nearly $360million since then.
With so much cash being supplied by investors, Twitter's management has been able to focus on hiring more workers and adding more features instead of worrying about how to make money.
The San Francisco-based company now employs about 350 people, more than tripling its payroll since the beginning of the year.
Most of Twitter's revenue so far has flowed from deals that have given Google, Microsoft's Bing and other Internet services better access to its messaging stream.
Over the past eight months, Twitter has gradually allowed advertisements to appear amid its service's chatter.
New employees: There are now over 350 members of staff at Twitter, and entrepreneurs Mike McCue and David Rosenblatt have joined the board
New employees: There are now over 350 members of staff at Twitter, and entrepreneurs Mike McCue and David Rosenblatt have joined the board
Its executives have repeatedly said they're in no hurry to take the company public and selling to a larger company remains a possibility, too.
The newest directors on Twitter's nine-member board both have experience with the sell option.
Mr McCue sold TellMe, a company specializing in voice recognition software, to Microsoft for $800 million in 2007.
And Mr Rosenblatt was CEO of the online advertising service DoubleClick when it was sold to Google for $3.2 billion in 2008.
Twitter's current CEO, Mr Costolo, and former CEO, co-founder Evan Williams, also previously sold startups to Google.
Mr Costolo tweeted yesterday that funding will 'help grow Twitter to infinity and beyond'.
Read more: http://www.dailymail.co.uk/
The company released its latest valuation after it raised another $200million so it can keep growing without having to float itself on the stock market.
The deal puts the company some way off Facebook, the social networking phenomenon, which was valued at $45billion recently.
Kleiner Perkins Caufield & Byers, one of Silicon Valley's best-known venture capital firms, is leading the investment, which was announced yesterday.
Scroll down for a simple video on how to use Twitter
Flying high: Twitter has had $360million investment since is began in 2006 - and is now valued at £3.7billion
TWITTER BY NUMBERS
2006 - The San Francisco-based microblogging site is founded
190 million - number of users
140 - characters allowed in 'tweets'
65 million - average tweets a day
$360million - amount of outsider investment in four year
7,365,442 - number of followers Lady Gaga, the most popular tweeter, has
$200million - latest investment
$1billion - value of company last year
190 million - number of users
140 - characters allowed in 'tweets'
65 million - average tweets a day
$360million - amount of outsider investment in four year
7,365,442 - number of followers Lady Gaga, the most popular tweeter, has
$200million - latest investment
$1billion - value of company last year
The moves come two months after the four-year-old company handed the job of chief executive to Dick Costolo, the architect of its new advertising efforts, a sign that making money is a priority for the service.
Twitter's association with Kleiner Perkins is likely to add to the intrigue about the moneymaking potential of a service that each day blasts out more than 65 million short messages, or 'tweets', limited to 140 characters.
Kleiner Perkins' past Internet bets include investments in online search leader Google, now worth about $190billion, and leading Web merchant Amazon.com, now worth about $80billion.
The venture capital firm obviously thinks highly of Twitter, which started in 2007 and has now raised nearly $360million since then.
With so much cash being supplied by investors, Twitter's management has been able to focus on hiring more workers and adding more features instead of worrying about how to make money.
The San Francisco-based company now employs about 350 people, more than tripling its payroll since the beginning of the year.
Most of Twitter's revenue so far has flowed from deals that have given Google, Microsoft's Bing and other Internet services better access to its messaging stream.
Over the past eight months, Twitter has gradually allowed advertisements to appear amid its service's chatter.
New employees: There are now over 350 members of staff at Twitter, and entrepreneurs Mike McCue and David Rosenblatt have joined the board
The newest directors on Twitter's nine-member board both have experience with the sell option.
Mr McCue sold TellMe, a company specializing in voice recognition software, to Microsoft for $800 million in 2007.
And Mr Rosenblatt was CEO of the online advertising service DoubleClick when it was sold to Google for $3.2 billion in 2008.
Twitter's current CEO, Mr Costolo, and former CEO, co-founder Evan Williams, also previously sold startups to Google.
Mr Costolo tweeted yesterday that funding will 'help grow Twitter to infinity and beyond'.
Twitter, the online microblogging service, has been valued at $3.7billion up $1billion just a year ago - and twice the value of the New York Times.
The company released its latest valuation after it raised another $200million so it can keep growing without having to float itself on the stock market.
The deal puts the company some way off Facebook, the social networking phenomenon, which was valued at $45billion recently.
Kleiner Perkins Caufield & Byers, one of Silicon Valley's best-known venture capital firms, is leading the investment, which was announced yesterday.
Scroll down for a simple video on how to use Twitter
Flying high: Twitter has had $360million investment since is began in 2006 - and is now valued at £3.7billion
Flying high: Twitter has had $360million investment since is began in 2006 - and is now valued at £3.7billion
TWITTER BY NUMBERS
2006 - The San Francisco-based microblogging site is founded
190 million - number of users
140 - characters allowed in 'tweets'
65 million - average tweets a day
$360million - amount of outsider investment in four year
7,365,442 - number of followers Lady Gaga, the most popular tweeter, has
$200million - latest investment
$1billion - value of company last year
Twitter, which clocked 190 million users last month, also added two successful entrepreneurs, Mike McCue and David Rosenblatt, to its board of directors.
The moves come two months after the four-year-old company handed the job of chief executive to Dick Costolo, the architect of its new advertising efforts, a sign that making money is a priority for the service.
Twitter's association with Kleiner Perkins is likely to add to the intrigue about the moneymaking potential of a service that each day blasts out more than 65 million short messages, or 'tweets', limited to 140 characters.
Kleiner Perkins' past Internet bets include investments in online search leader Google, now worth about $190billion, and leading Web merchant Amazon.com, now worth about $80billion.
The venture capital firm obviously thinks highly of Twitter, which started in 2007 and has now raised nearly $360million since then.
With so much cash being supplied by investors, Twitter's management has been able to focus on hiring more workers and adding more features instead of worrying about how to make money.
The San Francisco-based company now employs about 350 people, more than tripling its payroll since the beginning of the year.
Most of Twitter's revenue so far has flowed from deals that have given Google, Microsoft's Bing and other Internet services better access to its messaging stream.
Over the past eight months, Twitter has gradually allowed advertisements to appear amid its service's chatter.
New employees: There are now over 350 members of staff at Twitter, and entrepreneurs Mike McCue and David Rosenblatt have joined the board
New employees: There are now over 350 members of staff at Twitter, and entrepreneurs Mike McCue and David Rosenblatt have joined the board
Its executives have repeatedly said they're in no hurry to take the company public and selling to a larger company remains a possibility, too.
The newest directors on Twitter's nine-member board both have experience with the sell option.
Mr McCue sold TellMe, a company specializing in voice recognition software, to Microsoft for $800 million in 2007.
And Mr Rosenblatt was CEO of the online advertising service DoubleClick when it was sold to Google for $3.2 billion in 2008.
Twitter's current CEO, Mr Costolo, and former CEO, co-founder Evan Williams, also previously sold startups to Google.
Mr Costolo tweeted yesterday that funding will 'help grow Twitter to infinity and beyond'.
Read more: http://www.dailymail.co.uk/
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