The micro-blogging site Twitter has been valued at $8billion (£5billion) following the news the popular website is in the process of raising another $400million from investors. The venture capital firm Kleiner Perkins Caufield & Byers, which led a $200milion injection to help fuel Twitter’s growth last December, is also said to be involved in the latest financing effort. Twitter is believed to be planning a number of schemes to raise further capital, with the introduction of promoted tweets in users’ timelines expected to be introduced in the near future.
The hugely popular social-networking site recently announced its 200 million users are sending around 200 million tweets a day, almost three times the number which were sent on a daily basis last year. Twitter’s value is continually being recalculated with The Wall Street Journal recently valuing the site at $1billion less than the Times, at $7billion.
Source: The Metro UK
