Twitter Said To Be Raising More Cash, Valued at $250 Million
Twitter is rumored to be raising $20 million (or more) in venture capital funding at a valuation that would peg the Twitter to be worth $200 million or higher. IVP, a late stage VC investor is rumored to have signed on, reports TechCrunch. Peter Kafka has been able to confirm from his sources that the funding for San Francisco-based microblogging company is indeed in the works.
Several other investors are said to be interested in the company. Even though Identica, an open source twitter competitor recently raised some early stage capital, I am surprised that that Twitter hasn’t attracted more competition. It’s growth and rumored valuation is going to change the landscape.
The company has so far raised $20 million, with $15 million coming in June 2008. New investors Spark Capital and Bezos Expedition joined previous investors Union Square Ventures and Digital Garage in that round. At the time, the company had about 2 million users and the company was valued at between $80-to-$100 million. Since then, the number of Twitter users has increased to 6 million. A majority of Twitter’s usage is through its API and the unique visitors to its website are only fraction of company’s growth story.
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