09/07/2011 11:30
Twitter involves private investors
Twitter is in the process of raising $400 million in a deal that values the company at $8 billion, according to two people briefed on the matter.
The New York Times reports that the financing round, which will be split into two portions, will be led by DST Global, the investment firm headed by the Russian billionaire Yuri Milner. Previous investors, including the venture capital firm Kleiner Perkins Caufield & Byers, will also participate, one person said.
At present, Twitter makes the bulk of its money from an advertising platform that features “promoted tweets.” The program, which was rolled out in April 2010, displays sponsored messages in users’ feeds or keyword searches.